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

E. Ohman J or Asset Management AB decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 33.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,639 shares of the software maker's stock after selling 84,980 shares during the period. E. Ohman J or Asset Management AB's holdings in Fortinet were worth $30,503,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. SBI Securities Co. Ltd. lifted its holdings in shares of Fortinet by 19.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,911 shares of the software maker's stock valued at $878,000 after acquiring an additional 812 shares in the last quarter. Reyes Financial Architecture Inc. bought a new position in Fortinet in the 3rd quarter worth approximately $195,000. Cardinal Point Capital Management ULC bought a new stake in Fortinet in the third quarter worth about $262,000. Axxcess Wealth Management LLC acquired a new position in Fortinet in the 3rd quarter worth approximately $246,000. Finally, Capstone Capital Management Ltd increased its position in Fortinet by 6.6% in the 3rd quarter. Capstone Capital Management Ltd now owns 6,809 shares of the software maker's stock worth $1,217,000 after purchasing an additional 423 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FTNT shares. William Blair reissued a "market perform" rating on shares of Fortinet in a research report on Tuesday, July 21st. BTIG Research raised their price objective on shares of Fortinet from $186.00 to $203.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Scotiabank reiterated a "sector perform" rating and issued a $163.00 price objective (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. BMO Capital Markets increased their price target on shares of Fortinet from $170.00 to $185.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Fortinet in a research note on Thursday, July 30th. One research 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 issued a Sell rating to the stock. According to MarketBeat.com, Fortinet has a consensus rating of "Hold" and a consensus price target of $161.75.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $172.98 on Friday. The company's 50 day simple moving average is $170.07 and its 200 day simple moving average is $145.84. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $197.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The stock has a market capitalization of $126.92 billion, a price-to-earnings ratio of 60.91, a price-to-earnings-growth ratio of 3.25 and a beta of 1.03.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm's quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. 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, research analysts predict that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.

Key Stories Impacting Fortinet

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 Buying and Selling

In other news, CEO Ken Xie sold 161,482 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president directly owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last three months, insiders have sold 221,303 shares of company stock valued at $36,164,034. 17.60% of the stock is owned by company insiders.

Fortinet Company Profile

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.

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