Evergreen Private Wealth LLC Increases Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• Evergreen Private Wealth LLC boosted its stake in Fortinet by 72.0% in Q4, adding 18,291 shares to hold 43,703 shares worth about $3.47 million.
• Fortinet beat quarterly estimates with $0.81 EPS (vs. $0.74) and $1.91B revenue (vs. $1.86B), and set Q1 2026 guidance of $0.590–0.630 EPS and FY2026 guidance of $2.940–3.000 EPS, showing strong margins and revenue growth.
• Despite several analyst upgrades and higher targets, the consensus rating is a Hold with a $87.04 price target; institutional investors own about 83.7% of the stock while insiders recently sold sizable positions.

Evergreen Private Wealth LLC raised its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 72.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,703 shares of the software maker's stock after purchasing an additional 18,291 shares during the period. Evergreen Private Wealth LLC's holdings in Fortinet were worth $3,470,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FTNT. Vanguard Group Inc. boosted its position in shares of Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker's stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares during the last quarter. Van ECK Associates Corp increased 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 last quarter. First Trust Advisors LP raised its stake in Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker's stock worth $636,962,000 after purchasing an additional 1,790,033 shares during the period. Invesco Ltd. boosted its holdings in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker's stock valued at $909,453,000 after purchasing an additional 1,568,337 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Fortinet by 23.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker's stock valued at $430,082,000 after purchasing an additional 969,899 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Analysts Set New Price Targets

FTNT has been the subject of several research analyst reports. TD Cowen upgraded Fortinet from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Friday, January 23rd. Rosenblatt Securities boosted their price objective on shares of Fortinet from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, February 6th. Truist Financial set a $88.00 target price on Fortinet in a research note on Tuesday, January 20th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. Finally, BMO Capital Markets lifted their price objective on shares of Fortinet from $90.00 to $95.00 and gave the stock a "market perform" rating in a report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $87.04.

Fortinet Stock Performance

Shares of FTNT opened at $87.09 on Thursday. The firm has a fifty day moving average of $81.64 and a 200-day moving average of $81.74. The company has a market cap of $64.44 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 2.93 and a beta of 1.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $109.33.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. 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 anticipate that Fortinet, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Michael Xie sold 343,106 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the business's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares of the company's stock, valued at $4,184,693,666.70. This trade 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 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.

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