Clearbridge Investments LLC Sells 265,667 Shares of Fortinet, Inc. $FTNT

Clearbridge Investments LLC trimmed its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 27.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 708,668 shares of the software maker’s stock after selling 265,667 shares during the quarter. Clearbridge Investments LLC owned about 0.10% of Fortinet worth $56,275,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp grew its stake in shares of Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the period. Norges Bank bought a new stake in shares of Fortinet during the 4th quarter valued at about $1,152,917,000. Bank of New York Mellon Corp grew its stake in shares of Fortinet by 6.6% during the 4th 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. Finally, Invesco Ltd. grew its stake in shares of Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Fortinet Stock Down 1.1%

NASDAQ FTNT opened at $143.04 on Tuesday. The stock’s 50 day moving average is $104.83 and its 200 day moving average is $89.39. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $150.07. The stock has a market cap of $104.80 billion, a PE ratio of 55.23, a P/E/G ratio of 3.96 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned $0.58 EPS. The firm’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. Research analysts predict that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of the business’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 transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FTNT. Wells Fargo & Company restated an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. Compass Point set a $100.00 price target on Fortinet in a research note on Monday, May 4th. Stifel Nicolaus set a $85.00 price target on Fortinet in a research note on Wednesday, March 11th. UBS Group boosted their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets boosted their price target on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $106.43.

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.