Thrivent Financial for Lutherans Has $12.80 Million Stake in Fortinet, Inc. $FTNT

Thrivent Financial for Lutherans lowered its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 89.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 152,193 shares of the software maker’s stock after selling 1,308,463 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Fortinet were worth $12,796,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Fortinet by 6.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock valued at $137,800,000 after purchasing an additional 82,937 shares in the last quarter. Allstate Corp purchased a new stake in Fortinet in the 3rd quarter valued at about $2,034,000. Asset Management One Co. Ltd. increased its stake in Fortinet by 4.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock valued at $33,824,000 after buying an additional 17,892 shares during the last quarter. Warther Private Wealth LLC lifted its position in shares of Fortinet by 39.7% during the 2nd quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock worth $19,258,000 after buying an additional 51,750 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fortinet by 465.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock worth $64,255,000 after buying an additional 622,809 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Analysts are broadly constructive ahead of Q4 — previews note potential upside vs. consensus driven by recurring revenue strength and AI/data‑center deal momentum, supporting hopes for an earnings beat. Fortinet Q4 2025 earnings preview
• Positive Sentiment: Jefferies expects a modest Q4 beat (which can lift sentiment near-term) even as it stays cautious on FY‑2026 — near-term beat expectations are a bullish catalyst into results. Jefferies Q4 preview
• Positive Sentiment: Rosenblatt and other coverage point to tax incentives and improved sales execution as possible Q4 upside drivers — any upside surprise could re‑rate the shares. Rosenblatt Q4 upside
• Neutral Sentiment: Zacks and Benzinga previews compile guidance/expectations (revenue guidance bands and EPS setup); useful positioning but not an immediate catalyst until Fortinet posts results and forward guidance. Zacks Q4 preview Benzinga preview
• Negative Sentiment: Insider selling: CEO Ken Xie sold 175,737 shares (~$14.3M) and VP Michael Xie sold 343,106 shares (~$27.9M) on Feb. 2 — large insider sales often weigh on sentiment even though insiders still hold sizable stakes. InsiderTrades: Ken Xie sale Michael Xie SEC filing
• Negative Sentiment: Analyst downgrades (including Scotiabank and some firms reassessing 2026 growth) have pressured the stock as investors mark down forward growth expectations. Analyst downgrades Scotiabank downgrade

Fortinet Stock Up 2.3%

FTNT opened at $81.12 on Thursday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The company has a market cap of $60.32 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 2.74 and a beta of 1.06. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $80.37 and a 200 day moving average of $83.08.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. On average, sell-side analysts expect that Fortinet, Inc. will post 2.09 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 175,737 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the transaction, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. The trade was a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FTNT. Barclays set a $88.00 target price on Fortinet in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on Fortinet from $75.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, January 30th. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Royal Bank Of Canada reduced their price target on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research report on Thursday, November 6th. Finally, Hsbc Global Res lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.48.

Fortinet Company 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.