Fortinet, Inc. $FTNT Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its stake in Fortinet, Inc. (NASDAQ:FTNT) by 79.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,683 shares of the software maker’s stock after selling 194,779 shares during the period. Congress Asset Management Co.’s holdings in Fortinet were worth $4,104,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BDF Gestion acquired a new position in shares of Fortinet in the 4th quarter worth approximately $2,549,000. Carderock Capital Management Inc. boosted its position in shares of Fortinet by 6.3% during the 4th quarter. Carderock Capital Management Inc. now owns 94,124 shares of the software maker’s stock worth $7,474,000 after purchasing an additional 5,603 shares during the period. SG Americas Securities LLC increased its holdings in Fortinet by 440.0% in the 4th quarter. SG Americas Securities LLC now owns 867,858 shares of the software maker’s stock valued at $68,917,000 after purchasing an additional 707,147 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Fortinet by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 26,970 shares of the software maker’s stock valued at $2,142,000 after purchasing an additional 9,807 shares during the period. Finally, True Wealth Design LLC raised its position in Fortinet by 246.2% in the fourth quarter. True Wealth Design LLC now owns 1,042 shares of the software maker’s stock valued at $83,000 after purchasing an additional 741 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated 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 owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction dated 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 transaction, the vice president directly owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by company insiders.

Fortinet Stock Down 0.6%

Fortinet stock opened at $78.89 on Thursday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $109.33. The stock’s fifty day simple moving average is $81.26 and its 200-day simple moving average is $81.91. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $58.37 billion, a P/E ratio of 32.47, a P/E/G ratio of 2.74 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business posted $0.74 earnings per share. Fortinet’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. As a group, equities analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FTNT shares. Oppenheimer restated a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Freedom Capital downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets increased their target price on Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a research note on Monday, February 9th. Truist Financial set a $88.00 target price on Fortinet in a research report on Tuesday, January 20th. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Fortinet has an average rating of “Hold” and an average price target of $88.62.

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.