Fortinet, Inc. $FTNT Shares Sold by BDF Gestion

BDF Gestion lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 68.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,145 shares of the software maker’s stock after selling 19,710 shares during the period. BDF Gestion’s holdings in Fortinet were worth $1,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FTNT. BlackRock Inc. purchased a new position in Fortinet during the 2nd quarter worth approximately $9,561,650,000. Bank of New York Mellon Corp purchased a new stake in Fortinet in the second quarter valued at approximately $1,432,842,000. Legal & General Group Plc purchased a new stake in Fortinet in the second quarter valued at approximately $979,062,000. Arrowstreet Capital Limited Partnership lifted its stake in Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after buying an additional 4,500,194 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Fortinet in the second quarter valued at approximately $656,852,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of research reports. The Goldman Sachs Group restated a “buy” rating and set a $190.00 target price (up from $116.00) on shares of Fortinet in a research report on Thursday, July 30th. William Blair reiterated a “market perform” rating on shares of Fortinet in a research report on Tuesday, July 21st. Roth Capital increased their price target on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Yorkville Ives initiated coverage on shares of Fortinet in a research note on Tuesday, October 6th. They set an “outperform” rating and a $225.00 target price for the company. Finally, UBS Group reissued a “neutral” rating and set a $200.00 price target on shares of Fortinet in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Fortinet has an average rating of “Hold” and a consensus target price of $160.92.

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president directly owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, COO John Whittle sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total value of $478,377.90. Following the completion of the transaction, the chief operating officer owned 96,987 shares in the company, valued at approximately $16,365,586.38. This trade represents a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 221,303 shares of company stock worth $36,164,034. 17.60% of the stock is owned by company insiders.

Fortinet Stock Performance

NASDAQ FTNT traded up $2.51 on Monday, hitting $171.64. 1,701,874 shares of the company’s stock were exchanged, compared to its average volume of 5,814,665. The firm has a market cap of $125.94 billion, a price-to-earnings ratio of 60.41, a P/E/G ratio of 3.16 and a beta of 1.03. The firm’s 50-day moving average price is $169.33 and its two-hundred day moving average price is $143.30. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $197.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, research analysts expect that Fortinet, Inc. will post 3.10 EPS for the current year.

About Fortinet

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.