Ceeto Capital Group LLC Buys 13,600 Shares of Fortinet, Inc. $FTNT

Key Points

• Ceeto Capital Group LLC increased its Fortinet stake by 240.7% in Q3 by buying 13,600 shares, bringing its holding to 19,250 shares worth about $1.62 million.
• Top insiders sold large positions on Feb 2: VP Michael Xie sold 343,106 shares and CEO Ken Xie sold 175,737 shares at $81.42 each, totaling roughly $42.24 million, while insiders still own 17.20% of the company.
• Fortinet beat quarterly expectations with $0.81 EPS vs $0.74 and $1.91B revenue (+14.8% YoY), issued FY2026 EPS guidance of 2.94–3.00, and carries an average analyst rating of "Hold" with a $88.62 target.

Ceeto Capital Group LLC lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 240.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,250 shares of the software maker's stock after purchasing an additional 13,600 shares during the period. Ceeto Capital Group LLC's holdings in Fortinet were worth $1,619,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Fiduciary Trust Co raised its position in Fortinet by 1.2% in the 3rd quarter. Fiduciary Trust Co now owns 10,823 shares of the software maker's stock worth $910,000 after purchasing an additional 130 shares during the last quarter. L2 Asset Management LLC boosted its position in Fortinet by 5.1% in the 2nd quarter. L2 Asset Management LLC now owns 2,847 shares of the software maker's stock valued at $301,000 after buying an additional 137 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Fortinet by 40.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 481 shares of the software maker's stock valued at $40,000 after buying an additional 139 shares during the period. Cary Street Partners Investment Advisory LLC increased its stake in shares of Fortinet by 11.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,410 shares of the software maker's stock valued at $149,000 after buying an additional 144 shares during the period. Finally, Fiduciary Alliance LLC raised its position in shares of Fortinet by 3.0% during the third quarter. Fiduciary Alliance LLC now owns 5,093 shares of the software maker's stock worth $428,000 after acquiring an additional 147 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet unveiled FortiOS 8.0 with AI‑aware controls, quantum‑safe cryptography and sovereign SASE options, a product push that supports upsell into SecOps, SASE and AI security—positive for revenue mix and differentiation. Fortinet FortiOS 8.0 Targets AI Security And Quantum Ready Growth
• Positive Sentiment: Channel momentum highlighted as Liquid Networx won two Fortinet partner awards (Engage Preferred Services Partner and Unified SASE Partner of the Year), underscoring partner execution and potential services growth. Liquid Networx Wins Two Partner of the Year Awards at Fortinet Accelerate 2026
• Neutral Sentiment: Analyst commentary pieces provide context but no consensus upgrade — coverage includes broad insights on Fortinet alongside peers, offering mixed takeaways for investors. Analysts Offer Insights on Technology Companies: Fortinet (FTNT) and Atlassian (TEAM)
• Neutral Sentiment: Intraday swings were notable — the shares traded up in some sessions before closing lower, reflecting short‑term profit taking and rotation within the software/security group. Fortinet (FTNT) Advances While Market Declines: Some Information for Investors
• Negative Sentiment: Barclays moved coverage to a Hold, and Wells Fargo maintained a Sell—mixed-to‑negative analyst positioning is pressuring sentiment and can limit near‑term upside. Fortinet (FTNT) Gets a Hold from Barclays Wells Fargo Keeps Their Sell Rating on Fortinet (FTNT)
• Negative Sentiment: News roundups note that Fortinet fell more than the broader market in recent sessions—coverage points to analyst pressure and sector rotation as reasons for the pullback. Here's Why Fortinet (FTNT) Fell More Than Broader Market

Analyst Ratings Changes

FTNT has been the topic of several research reports. UBS Group reaffirmed a "neutral" rating and set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Fortinet in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on Fortinet from $72.00 to $73.00 and gave the stock an "underweight" rating in a report on Friday, February 6th. Freedom Capital downgraded shares of Fortinet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Finally, TD Cowen raised shares of Fortinet from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $88.62.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares of the company's stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ken Xie sold 175,737 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares of the company's stock, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 17.20% of the company's stock.

Fortinet Stock Down 1.1%

NASDAQ:FTNT opened at $83.44 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $109.33. The stock's fifty day simple moving average is $80.66 and its 200-day simple moving average is $81.69. The firm has a market capitalization of $61.74 billion, a P/E ratio of 34.34, a P/E/G ratio of 2.88 and a beta of 1.05.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The firm's revenue was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Equities research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

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.

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