Twin Capital Management Inc. Cuts Position in Fortinet, Inc. $FTNT

Twin Capital Management Inc. reduced its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 41.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,056 shares of the software maker’s stock after selling 19,657 shares during the period. Twin Capital Management Inc.’s holdings in Fortinet were worth $2,359,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FTNT. LSV Asset Management purchased a new position in Fortinet in the second quarter valued at about $25,000. Financial Consulate Inc. acquired a new stake in shares of Fortinet in the 3rd quarter worth approximately $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in Fortinet in the 3rd quarter valued at approximately $25,000. SJS Investment Consulting Inc. raised its holdings in Fortinet by 1,556.5% during the third quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after purchasing an additional 358 shares during the last quarter. Finally, Quaker Wealth Management LLC boosted its position in Fortinet by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after purchasing an additional 726 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.

Analysts Set New Price Targets

FTNT has been the subject of a number of research analyst reports. Mizuho raised their price target on Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research report on Friday. Royal Bank Of Canada restated a “sector perform” rating and set a $90.00 target price (up previously from $85.00) on shares of Fortinet in a research report on Friday. Evercore ISI set a $80.00 price target on shares of Fortinet in a report on Friday. Citigroup reissued a “neutral” rating and set a $85.00 price objective (up from $83.00) on shares of Fortinet in a research note on Monday, January 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 target price (up previously from $85.00) on shares of Fortinet in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.46.

Fortinet Stock Performance

Fortinet stock opened at $82.76 on Friday. The stock has a fifty day moving average price of $80.37 and a 200 day moving average price of $82.88. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The firm has a market capitalization of $61.54 billion, a P/E ratio of 34.06, a PEG ratio of 2.73 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.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) 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 firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $0.74 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Equities research analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction on 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 directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 17.20% of the company’s stock.

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.