Fortinet, Inc. $FTNT Shares Sold by BNP Paribas

BNP Paribas decreased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 53.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,065 shares of the software maker’s stock after selling 19,259 shares during the quarter. BNP Paribas’ holdings in Fortinet were worth $1,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth $585,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Fortinet during the 2nd quarter valued at about $603,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Fortinet by 7.1% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 155,810 shares of the software maker’s stock valued at $16,472,000 after acquiring an additional 10,329 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its holdings in shares of Fortinet by 19.2% in the second quarter. Meridian Wealth Management LLC now owns 13,312 shares of the software maker’s stock valued at $1,407,000 after purchasing an additional 2,141 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

Fortinet stock opened at $83.44 on Monday. The company’s 50 day simple moving average is $80.66 and its 200-day simple moving average is $81.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $109.33. The company has a market capitalization of $61.74 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.88 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last posted 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. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $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. As a group, equities research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Wall Street Analyst Weigh In

FTNT has been the subject of several recent analyst reports. Cantor Fitzgerald restated a “neutral” rating on shares of Fortinet in a research report on Thursday. Mizuho increased their price target on shares of Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research note on Friday, February 6th. Stifel Nicolaus set a $85.00 price target on shares of Fortinet in a report on Wednesday. Wells Fargo & Company assumed coverage on shares of Fortinet in a research report on Tuesday, March 3rd. They set an “underweight” rating and a $64.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and an average target price of $88.62.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet unveiled FortiOS 8.0 with AI‑aware controls, quantum‑safe cryptography and sovereign SASE options, a product push that supports upsell into SecOps, SASE and AI security—positive for revenue mix and differentiation. Fortinet FortiOS 8.0 Targets AI Security And Quantum Ready Growth
• Positive Sentiment: Channel momentum highlighted as Liquid Networx won two Fortinet partner awards (Engage Preferred Services Partner and Unified SASE Partner of the Year), underscoring partner execution and potential services growth. Liquid Networx Wins Two Partner of the Year Awards at Fortinet Accelerate 2026
• Neutral Sentiment: Analyst commentary pieces provide context but no consensus upgrade — coverage includes broad insights on Fortinet alongside peers, offering mixed takeaways for investors. Analysts Offer Insights on Technology Companies: Fortinet (FTNT) and Atlassian (TEAM)
• Neutral Sentiment: Intraday swings were notable — the shares traded up in some sessions before closing lower, reflecting short‑term profit taking and rotation within the software/security group. Fortinet (FTNT) Advances While Market Declines: Some Information for Investors
• Negative Sentiment: Barclays moved coverage to a Hold, and Wells Fargo maintained a Sell—mixed-to‑negative analyst positioning is pressuring sentiment and can limit near‑term upside. Fortinet (FTNT) Gets a Hold from Barclays Wells Fargo Keeps Their Sell Rating on Fortinet (FTNT)
• Negative Sentiment: News roundups note that Fortinet fell more than the broader market in recent sessions—coverage points to analyst pressure and sector rotation as reasons for the pullback. Here’s Why Fortinet (FTNT) Fell More Than Broader Market

Insiders Place Their Bets

In related news, VP Michael Xie sold 343,106 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 $27,935,690.52. Following the sale, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is owned by corporate insiders.

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.