Truist Financial Corp Sells 14,395 Shares of Fortinet, Inc. $FTNT

Truist Financial Corp decreased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 32.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,172 shares of the software maker’s stock after selling 14,395 shares during the period. Truist Financial Corp’s holdings in Fortinet were worth $2,537,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FTNT. LSV Asset Management acquired a new stake in shares of Fortinet in the 2nd quarter valued at about $25,000. Financial Consulate Inc. acquired a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. SJS Investment Consulting Inc. boosted its position in Fortinet by 1,556.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after acquiring an additional 358 shares during the last quarter. Finally, Quaker Wealth Management LLC grew its stake in shares of Fortinet by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after acquiring an additional 726 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Fortinet Price Performance

NASDAQ:FTNT opened at $82.76 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 $61.54 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.73 and a beta of 1.06. The stock’s 50 day moving average price is $80.37 and its two-hundred day moving average price is $82.88. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 117.39% and a net margin of 27.26%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $0.74 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 beat and raised full‑year guidance — Fortinet reported Q4 revenue of $1.91B and EPS of $0.81 (above estimates) and issued FY‑2026 EPS guidance ahead of consensus; management highlighted strong enterprise demand. Read More.
• Positive Sentiment: Billings, product growth and Unified SASE strength — Billings rose ~18% (Unified SASE billings up ~40%) and product revenue grew double digits, underpinning revenue momentum. Read More.
• Positive Sentiment: Buyback expanded — company increased its buyback program by $1B to roughly $10.25B through Feb 2027, a shareholder‑friendly move that supports the stock. Read More.
• Positive Sentiment: Some bullish analyst action — Rosenblatt raised its target to $105 (buy), and Wedbush reaffirmed an outperform with a $90 target, giving upside voices amid mixed comments. Read More. • Read More.
• Neutral Sentiment: Primary disclosures and management commentary — full earnings call transcript and presentation are available for deeper read on cloud/SASE strategy and guidance detail. Read More. • Read More.
• Negative Sentiment: Analyst caution still present — JPMorgan and Mizuho raised price targets slightly but kept underweight/outperform/underperform stances that imply limited near‑term upside from some shops; Jefferies also remains cautious on 2026. Read More. • Read More. • Read More.
• Negative Sentiment: Insider selling — filings show large sales by the CEO and a VP, which may raise short‑term governance/flow concerns for some investors. Read More. • Read More.
• Neutral Sentiment: Street positioning mixed — some firms (Robert W. Baird, others) keep holds or reiterate neutral stances citing product strength offset by services slowdown or limited near‑term upside. Read More.

Insider Transactions at Fortinet

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

Wall Street Analysts Forecast Growth

FTNT has been the subject of several recent research reports. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Fortinet in a report on Monday, November 24th. UBS Group restated a “neutral” rating and set a $90.00 price objective on shares of Fortinet in a research note on Friday. Barclays set a $88.00 price objective on Fortinet in a report on Tuesday. Evercore ISI set a $80.00 target price on Fortinet in a report on Friday. Finally, HSBC downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $89.46.

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.