Savant Capital LLC Sells 35,436 Shares of Fortinet, Inc. $FTNT

Key Points

• Savant Capital LLC sharply reduced its Fortinet stake in the fourth quarter, selling 35,436 shares and cutting holdings by 84.8% to 6,332 shares worth about $503,000.
• Fortinet reported strong quarterly results, beating EPS and revenue estimates with $0.82 EPS on $1.85 billion in revenue, while revenue rose 20.1% year over year. The company also issued upbeat Q2 and full-year FY2026 guidance.
• Despite the earnings strength, insider selling has drawn attention, including large recent sales by COO John Whittle and CEO Ken Xie, even though Ken Xie’s trade was made under a pre-arranged 10b5-1 plan.

Savant Capital LLC decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 84.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,332 shares of the software maker's stock after selling 35,436 shares during the period. Savant Capital LLC's holdings in Fortinet were worth $503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Optimist Retirement Group LLC raised its position in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock valued at $398,000 after acquiring an additional 122 shares during the last quarter. PDS Planning Inc raised its position in shares of Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker's stock valued at $326,000 after acquiring an additional 123 shares during the last quarter. Delta Investment Management LLC raised its position in shares of Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker's stock valued at $417,000 after acquiring an additional 125 shares during the last quarter. Fiduciary Trust Co raised its position in shares of Fortinet by 1.2% during the 3rd quarter. Fiduciary Trust Co now owns 10,823 shares of the software maker's stock valued at $910,000 after acquiring an additional 130 shares during the last quarter. Finally, L2 Asset Management LLC raised its position in shares of Fortinet by 5.1% during the 3rd quarter. L2 Asset Management LLC now owns 2,992 shares of the software maker's stock valued at $252,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 83.71% of the company's stock.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
• Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
• Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
• Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
• Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Analyst Upgrades and Downgrades

Several brokerages have commented on FTNT. Evercore set a $80.00 target price on shares of Fortinet in a research report on Friday, February 6th. Citigroup upped their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. UBS Group upped their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Morgan Stanley reiterated an "underweight" rating and set a $80.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Finally, Freedom Capital cut shares of Fortinet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $102.69.

Fortinet Trading Up 2.2%

NASDAQ FTNT opened at $149.67 on Friday. The firm has a market cap of $109.66 billion, a P/E ratio of 57.79, a P/E/G ratio of 4.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock's 50-day moving average is $102.28 and its 200-day moving average is $88.50. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07.

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

Insider Activity

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

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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