Glenmede Investment Management LP Trims Stock Position in Fortinet, Inc. $FTNT

Key Points

• Glenmede Investment Management trimmed its Fortinet stake by 3.9% in Q3, selling 20,518 shares and ending the quarter with 508,525 shares worth about $42.8 million (≈0.07% ownership).
• Insider sales: VP Michael Xie sold 343,106 shares (~$27.9M) and CEO Ken Xie sold 175,737 shares (~$14.3M) on Feb 2, though insiders still own 17.20% of the company.
• Earnings beat and guidance: Fortinet reported $0.81 EPS vs $0.74 expected and $1.91B revenue (up 14.8%), set Q1 FY2026 EPS guidance of 0.590–0.630 and FY2026 of 2.940–3.000, while analysts have an average "Hold" rating with a $88.62 target.

Glenmede Investment Management LP trimmed its position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 508,525 shares of the software maker's stock after selling 20,518 shares during the quarter. Glenmede Investment Management LP owned about 0.07% of Fortinet worth $42,757,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. LSV Asset Management purchased a new stake in shares of Fortinet during the 2nd quarter valued at approximately $25,000. Financial Consulate Inc. acquired a new position in Fortinet in the third quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in Fortinet in the third quarter worth approximately $25,000. Pinnacle Holdings LLC purchased a new position in Fortinet in the third quarter worth approximately $25,000. Finally, Ameriflex Group Inc. acquired a new stake in Fortinet during the third quarter worth $25,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTNT. JPMorgan Chase & Co. lifted their target price on Fortinet from $72.00 to $73.00 and gave the company an "underweight" rating in a research report on Friday, February 6th. Truist Financial set a $88.00 price target on Fortinet in a report on Tuesday, January 20th. Stifel Nicolaus set a $85.00 price objective on Fortinet in a research report on Wednesday. UBS Group restated a "neutral" rating and issued a $90.00 price objective on shares of Fortinet in a report on Friday, February 6th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Fortinet in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $88.62.

Insider Activity

In other news, VP Michael Xie sold 343,106 shares of the stock in a transaction dated 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 sale, the vice president owned 10,210,282 shares of the company's stock, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the firm'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 completion of the transaction, the chief executive officer directly owned 51,396,385 shares of the company's stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.20% of the company's stock.

Fortinet Trading Down 1.1%

FTNT opened at $83.44 on Friday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $109.33. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $80.66 and a 200-day simple moving average of $81.66. The firm has a market cap of $61.74 billion, a P/E ratio of 34.34, a P/E/G ratio of 2.92 and a beta of 1.05.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company'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. On average, equities analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

More Fortinet News

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 Company 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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