Fortinet, Inc. $FTNT Holdings Cut by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in Fortinet, Inc. (NASDAQ:FTNT) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,648 shares of the software maker’s stock after selling 5,023 shares during the period. Janney Montgomery Scott LLC’s holdings in Fortinet were worth $5,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FTNT. Expressive Wealth LLC acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $646,000. Trilogy Capital Inc. boosted its position in Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after acquiring an additional 14,076 shares during the period. Leonteq Securities AG acquired a new position in shares of Fortinet during the fourth quarter valued at $10,422,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Fortinet during the fourth quarter valued at about $14,638,000. Finally, Thrivent Financial for Lutherans grew its position in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after buying an additional 238,299 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $156.25 on Friday. The company’s fifty day moving average is $130.25 and its two-hundred day moving average is $98.18. The company has a market cap of $114.48 billion, a P/E ratio of 60.33, a price-to-earnings-growth ratio of 4.28 and a beta of 1.09. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $159.80. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

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

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 318,387 shares of company stock valued at $43,403,063 over the last three months. 17.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on FTNT shares. TD Cowen reiterated a “buy” rating and set a $160.00 price objective (up from $125.00) on shares of Fortinet in a research note on Monday, June 8th. Bank of America boosted their price target on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Stephens set a $115.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Morgan Stanley restated an “underweight” rating and issued a $80.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $107.00 price objective (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. One 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $107.58.

Fortinet 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.