Fortinet, Inc. $FTNT Stock Holdings Lessened by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 84.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 366,191 shares of the software maker’s stock after selling 1,942,863 shares during the period. Federated Hermes Inc.’s holdings in Fortinet were worth $30,789,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Fortinet during the 2nd quarter worth approximately $1,640,900,000. Vanguard Group Inc. boosted its position in Fortinet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after purchasing an additional 1,024,516 shares during the period. Montrusco Bolton Investments Inc. bought a new position in Fortinet during the 2nd quarter worth $108,056,000. State Street Corp increased its position in Fortinet by 3.0% in the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock worth $3,085,244,000 after buying an additional 862,468 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Fortinet by 5.2% in the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after buying an additional 828,569 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Activity

In other news, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. The trade was a 0.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ken Xie sold 158,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the sale, the chief executive officer owned 51,391,879 shares in the company, valued at $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt upgraded FTNT to a Buy and raised its price target to $100 (from $85), a bullish endorsement that can support share gains. Read More.
• Positive Sentiment: TD Cowen upgraded FTNT to Buy (PT $100) and called the valuation reasonable after channel checks showed stability — an influential bank upgrade that likely boosted buying interest. Read More.
• Positive Sentiment: Fortinet announced a FortiCNAPP upgrade emphasizing tighter cloud security integration and investor-focused messaging on cloud risk management — product progress that supports the company’s platform story and competitive moat. Read More.
• Positive Sentiment: Sector lift: coverage of Fortinet’s upgrades has helped buoy cybersecurity peers (e.g., CrowdStrike), indicating the upgrade-driven sentiment is spilling across the group and can provide additional support to FTNT. Read More.
• Neutral Sentiment: Elevated investor interest/search activity around FTNT signals heightened attention and liquidity, which can amplify moves in either direction depending on news flow. Read More.
• Neutral Sentiment: Multiple pieces profile Fortinet’s unified cloud-risk platform and longer-term moat — constructive for medium-term growth expectations but not an immediate earnings catalyst. Read More.
• Negative Sentiment: Zacks preview warns Fortinet lacks the setup for a likely earnings beat next week — this raises downside risk into the print and helps explain intraday pullbacks despite the bullish headlines. Read More.
• Neutral Sentiment: Scheduled earnings coverage and media previews mean volatility is likely until results/guidance are released — traders should watch the upcoming report for guidance vs. consensus. Read More.

Analyst Ratings Changes

Several research firms have recently commented on FTNT. Truist Financial set a $88.00 price target on shares of Fortinet in a research report on Tuesday, January 20th. Robert W. Baird reduced their target price on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Barclays dropped their price target on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. reduced their price objective on Fortinet from $75.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Piper Sandler restated a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average price target of $90.48.

Fortinet Price Performance

NASDAQ FTNT opened at $81.26 on Friday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The firm has a market capitalization of $60.43 billion, a PE ratio of 33.44, a P/E/G ratio of 2.84 and a beta of 1.07. The company’s 50 day simple moving average is $80.36 and its 200 day simple moving average is $83.73. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company posted $0.63 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, equities research analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Fortinet Profile

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.