Fortinet, Inc. $FTNT Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 33.2% during the third quarter, Holdings Channel.com reports. The firm owned 170,639 shares of the software maker’s stock after selling 84,980 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Fortinet were worth $30,503,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FTNT. BlackRock Inc. bought a new stake in shares of Fortinet during the 2nd quarter valued at about $9,561,650,000. First Trust Advisors LP raised its holdings in Fortinet by 45.5% in the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after acquiring an additional 3,598,487 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after acquiring an additional 4,500,194 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Fortinet in the second quarter worth approximately $1,432,842,000. Finally, Legal & General Group Plc purchased a new position in Fortinet in the second quarter worth about $979,062,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s integrated hardware-and-software model is presented as a competitive advantage versus Cisco and Palo Alto Networks, potentially supporting network-security growth, recurring revenue and long-term margins. Fortinet versus Cisco and Palo Alto Networks
• Positive Sentiment: Analysts expect double-digit year-over-year earnings-per-share growth when Fortinet reports its next quarterly results, keeping near-term fundamentals in focus. What to Expect From Fortinet’s Next Quarterly Earnings Report
• Positive Sentiment: Technical analysts say the stock has regained important support after a bullish reversal, with its rising trend channel suggesting potential recovery toward its prior high near $197. Fortinet Price Forecast
• Neutral Sentiment: Fortinet recently outperformed the broader market and has generated a 211% return over three years, but that performance raises the question of whether future cash generation can justify the stock’s elevated valuation. Can Fortinet Keep Trading at a Premium
• Negative Sentiment: Arete Research issued a rare double downgrade, moving Fortinet from “buy” to “sell” and assigning a $117 price target—well below the recent share price. The firm warned that several favorable growth drivers may peak in 2026, increasing concerns about slowing momentum and downside risk. Fortinet Downgrade by Arete Research

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 that occurred on Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the completion of the transaction, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at approximately $16,365,586.38. The trade was a 2.84% decrease in their position. 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. In the last quarter, insiders sold 221,303 shares of company stock valued at $36,164,034. Corporate insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stephens increased their price objective on shares of Fortinet from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. BTIG Research lifted their target price on Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. HC Wainwright reaffirmed a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Scotiabank reissued a “sector perform” rating and set a $163.00 price target (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. Finally, Barclays set a $210.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $161.75.

Fortinet Stock Down 0.6%

Shares of FTNT stock opened at $172.98 on Friday. The stock has a market cap of $126.92 billion, a P/E ratio of 60.91, a P/E/G ratio of 3.25 and a beta of 1.03. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $170.07 and a 200 day moving average of $145.84. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $197.13.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, sell-side 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.