King Luther Capital Management Corp Sells 7,273 Shares of Fortinet, Inc. $FTNT

King Luther Capital Management Corp lessened its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 664,371 shares of the software maker’s stock after selling 7,273 shares during the quarter. King Luther Capital Management Corp owned about 0.09% of Fortinet worth $52,758,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. boosted its position in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. Van ECK Associates Corp boosted its position in Fortinet by 62.1% during the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after purchasing an additional 2,132,109 shares during the period. First Trust Advisors LP boosted its position in shares of Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after acquiring an additional 1,790,033 shares during the period. Invesco Ltd. boosted its position in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Fortinet by 23.1% in the third quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock valued at $430,082,000 after acquiring an additional 969,899 shares during the period. Institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Rosenblatt Securities raised their price objective on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Susquehanna raised their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. BMO Capital Markets raised their price objective on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Finally, Stephens set a $115.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and an average target price of $102.69.

Fortinet Trading Up 0.0%

Shares of FTNT opened at $133.96 on Wednesday. The firm’s 50 day simple moving average is $94.07 and its 200 day simple moving average is $85.58. The company has a market capitalization of $98.15 billion, a P/E ratio of 51.72, a P/E/G ratio of 3.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $134.91.

Fortinet (NASDAQ:FTNT) last announced its 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 net margin of 27.49% and a return on equity of 160.08%. Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm 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. Sell-side analysts forecast that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 2,478 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the sale, the vice president directly owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ken Xie sold 5,355 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the completion of the sale, the chief executive officer directly owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 153,848 shares of company stock valued at $19,446,115 over the last three months. 17.60% of the stock is owned by corporate insiders.

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.