Savant Capital LLC Sells 35,436 Shares of Fortinet, Inc. $FTNT

Savant Capital LLC lessened its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 84.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,332 shares of the software maker’s stock after selling 35,436 shares during the period. Savant Capital LLC’s holdings in Fortinet were worth $503,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. increased its holdings in Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp lifted its position in Fortinet by 62.1% during the 3rd quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after buying an additional 2,132,109 shares in the last quarter. First Trust Advisors LP lifted its position in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares in the last quarter. Invesco Ltd. lifted its position in Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Fortinet by 23.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock worth $430,082,000 after buying an additional 969,899 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Up 2.2%

Shares of FTNT stock opened at $149.67 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm’s 50-day moving average is $102.28 and its 200-day moving average is $88.50. The stock has a market cap of $109.66 billion, a price-to-earnings ratio of 57.79, a PEG ratio of 4.01 and a beta of 1.11. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Sell-side analysts predict that Fortinet, Inc. will post 2.78 EPS for the current year.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
• Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
• Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
• Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
• Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $107.00 price target (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. Citigroup boosted their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings cut shares of Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Finally, Mizuho boosted their price target on shares of Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.69.

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by company insiders.

About Fortinet

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.