GF Fund Management CO. LTD. Sells 91,528 Shares of Fortinet, Inc. $FTNT

GF Fund Management CO. LTD. decreased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 37.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,442 shares of the software maker’s stock after selling 91,528 shares during the period. GF Fund Management CO. LTD.’s holdings in Fortinet were worth $12,817,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Fortinet by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock worth $7,684,461,000 after purchasing an additional 1,024,516 shares during the period. State Street Corp lifted 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 last quarter. Geode Capital Management LLC boosted its stake in Fortinet by 5.2% during the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock worth $1,783,091,000 after buying an additional 828,569 shares during the period. Norges Bank purchased a new stake in shares of Fortinet in the second quarter valued at $1,640,900,000. Finally, Invesco Ltd. lifted its holdings in shares of Fortinet by 7.9% in the 2nd quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock worth $977,718,000 after acquiring an additional 677,654 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ken Xie sold 175,737 shares of the business’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 $14,308,506.54. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through 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 $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on FTNT shares. Rosenblatt Securities increased their price objective on shares of Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. TD Cowen upgraded Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Friday, January 23rd. BMO Capital Markets raised their price target on Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a research note on Monday, February 9th. Evercore set a $80.00 price objective on Fortinet in a research report on Friday, February 6th. Finally, Truist Financial set a $88.00 target price on Fortinet in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $89.07.

Fortinet Price Performance

FTNT opened at $85.56 on Friday. The company has a market capitalization of $63.63 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.95 and a beta of 1.06. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.82. The business’s fifty day simple moving average is $80.56 and its 200-day simple moving average is $82.06.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data 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. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. 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, equities research analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

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.