Delta Global Management LP Makes New Investment in Fortinet, Inc. $FTNT

Key Points

• Delta Global Management purchased a new stake of 47,477 Fortinet shares in Q3 valued at about $3.99 million, and institutional investors now own roughly 83.71% of the stock.
• Significant insider selling: CEO Ken Xie sold 175,737 shares (~$14.3M) and VP Michael Xie sold 343,106 shares (~$27.9M) on Feb 2, trimming their positions while corporate insiders still hold about 18% of the company.
• Business and market context: Fortinet beat quarterly EPS and revenue estimates, issued FY26 EPS guidance of 2.94–3.00, and launched FortiOS 8.0 with AI‑aware and quantum‑safe features, though analysts’ consensus is a Hold with a $88.62 average target.

Delta Global Management LP purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,477 shares of the software maker's stock, valued at approximately $3,992,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. LSV Asset Management purchased a new stake in Fortinet during the 2nd quarter valued at about $25,000. Financial Consulate Inc. purchased a new position in Fortinet in the 3rd quarter worth approximately $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in Fortinet in the third quarter valued at approximately $25,000. Pinnacle Holdings LLC bought a new stake in Fortinet in the third quarter valued at approximately $25,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Fortinet during the third quarter valued at approximately $25,000. 83.71% of the stock is owned by institutional investors.

Insider Activity at Fortinet

In related news, 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 value of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 343,106 shares of the company'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 value of $27,935,690.52. Following the completion of the transaction, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 18.00% of the company's stock.

Key Stories 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

Fortinet Trading Down 1.1%

NASDAQ FTNT opened at $83.44 on Monday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33. The stock has a market cap 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. The stock's fifty day moving average price is $80.66 and its 200-day moving average price is $81.71. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada restated a "sector perform" rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Friday, February 6th. Barclays set a $88.00 price target on shares of Fortinet in a research report on Tuesday, February 3rd. Rosenblatt Securities boosted their price objective on shares of Fortinet from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, February 6th. Evercore set a $80.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Finally, Oppenheimer reiterated a "market perform" rating on shares of Fortinet in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Fortinet currently has an average rating of "Hold" and a consensus target price of $88.62.

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.

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.