Faithward Advisors LLC Has $490,000 Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• Faithward Advisors LLC cut its Fortinet stake by 89% in the fourth quarter, ending with 6,174 shares valued at about $490,000.
• Fortinet insiders have also been selling shares: COO John Whittle and CEO Ken Xie both recently reduced their holdings, with total insider sales reaching 318,387 shares over the last 90 days.
• The company reported strong quarterly results, beating earnings and revenue estimates, while analysts have responded with mixed-but-updated views and an average Hold rating with a price target of $107.77.

Faithward Advisors LLC trimmed its position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 89.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,174 shares of the software maker's stock after selling 50,097 shares during the period. Faithward Advisors LLC's holdings in Fortinet were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FTNT. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in Fortinet during the 3rd quarter worth approximately $25,000. Wexford Capital LP acquired a new stake in Fortinet during the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new stake in Fortinet during the 4th quarter worth approximately $27,000. Finally, Palisade Asset Management LLC acquired a new stake in Fortinet during the 3rd quarter worth approximately $28,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company's stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last 90 days. 17.60% of the stock is owned by corporate insiders.

Fortinet Stock Performance

Shares of FTNT stock opened at $147.02 on Wednesday. The company's fifty day simple moving average is $112.43 and its 200-day simple moving average is $92.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a market cap of $107.71 billion, a PE ratio of 56.76, a P/E/G ratio of 4.09 and a beta of 1.11. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $150.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts expect that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet launched FortiSOC, a unified, cloud-delivered SOC platform powered by agentic AI, which could strengthen its cybersecurity product lineup and support future revenue growth. Fortinet Launches FortiSOC, a Unified SOC Platform Powered by Agentic AI
• Positive Sentiment: TD Cowen and Cantor Fitzgerald raised their price targets on Fortinet, citing strong security and AI growth prospects, which reinforces a bullish outlook for the stock. TD Cowen and Cantor Fitzgerald Increase Fortinet Price Targets
• Positive Sentiment: At its annual meeting, shareholders backed the board, auditor, and executive pay, reducing governance uncertainty and signaling continued investor support. Fortinet Shareholders Back Board, Auditor and Executive Pay
• Neutral Sentiment: Coverage on FTNT noted the stock underperformed competitors on Tuesday, but the article did not point to a new fundamental problem. Fortinet Inc. stock underperforms Tuesday when compared to competitors
• Neutral Sentiment: Trading-focused articles suggested bullish technical setups and an options strategy targeting upside, but these were largely commentary rather than fresh business news. Fortinet Stock: Aim For A 28% Return With This Strategy On The Cybersecurity Firm

Analysts Set New Price Targets

Several analysts have commented on FTNT shares. Susquehanna raised their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Stifel Nicolaus set a $85.00 target price on shares of Fortinet in a report on Wednesday, March 11th. Truist Financial set a $120.00 target price on shares of Fortinet and gave the stock a "buy" rating in a report on Thursday, May 7th. Royal Bank Of Canada restated a "sector perform" rating and set a $107.00 target price (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. Finally, Citigroup raised their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $107.77.

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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