Stephens Investment Management Group LLC Trims Position in Fortinet, Inc. $FTNT

Stephens Investment Management Group LLC decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 20.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,759 shares of the software maker’s stock after selling 18,691 shares during the period. Stephens Investment Management Group LLC’s holdings in Fortinet were worth $5,864,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after acquiring an additional 477,397 shares during the period. Norges Bank purchased a new position in shares of Fortinet in the 4th quarter valued at approximately $1,152,917,000. Bank of New York Mellon Corp increased its holdings in shares of Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after purchasing an additional 893,190 shares during the period. Invesco Ltd. raised its stake in shares of Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Fortinet by 4.4% during the fourth quarter. First Trust Advisors LP now owns 7,907,686 shares of the software maker’s stock worth $627,949,000 after purchasing an additional 332,024 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $156.25 on Monday. The firm has a market capitalization of $114.48 billion, a P/E ratio of 60.33, a PEG ratio of 4.28 and a beta of 1.09. Fortinet, Inc. has a one year low of $70.12 and a one year high of $159.80. The company’s fifty day moving average is $130.25 and its two-hundred day moving average is $98.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $0.58 EPS. The business’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts forecast that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Mizuho upped their price objective on shares of Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, May 7th. Barclays set a $155.00 target price on shares of Fortinet and gave the company an “equal weight” rating in a report on Friday, June 12th. JPMorgan Chase & Co. boosted their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Finally, HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective for the company. in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $107.58.

Insiders Place Their Bets

In other news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by company insiders.

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.