Shaker Investments LLC OH Sells 16,397 Shares of Fortinet, Inc. $FTNT

Key Points

• Shaker Investments reduced its Fortinet position by 39.7%, selling 16,397 shares and leaving 24,916 shares valued at about $1.98 million per its latest 13F filing.
• Significant insider sales: VP Michael Xie sold 343,106 shares and CEO Ken Xie sold 175,737 shares on Feb. 2 at an average $81.42, totaling roughly $27.9M and $14.3M respectively, while insiders still own 17.20% of the company.
• The analyst consensus is a "Hold" with an average target of $87.72; the stock trades near $86 after Fortinet beat quarterly EPS/revenue estimates and set FY2026 guidance of $2.94–3.00 EPS.

Shaker Investments LLC OH reduced its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 39.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,916 shares of the software maker's stock after selling 16,397 shares during the period. Shaker Investments LLC OH's holdings in Fortinet were worth $1,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Holdings LLC acquired a new position in shares of Fortinet in the third quarter valued at about $25,000. Financial Consulate Inc. acquired a new stake in Fortinet in the 3rd quarter worth about $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in Fortinet in the 3rd quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in Fortinet in the 3rd quarter valued at about $25,000. Finally, Wexford Capital LP acquired a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FTNT has been the topic of several recent research reports. Citigroup reaffirmed a "neutral" rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Monday, February 9th. Freedom Capital downgraded Fortinet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Scotiabank lowered Fortinet from a "sector outperform" rating to a "sector perform" rating and set a $85.00 price objective on the stock. in a research note on Monday, February 2nd. Stifel Nicolaus set a $85.00 price objective on Fortinet in a report on Wednesday, March 11th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $83.00 target price on shares of Fortinet in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-one have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $87.72.

Fortinet Stock Up 0.5%

NASDAQ FTNT opened at $86.11 on Thursday. The business has a fifty day moving average price of $81.78 and a two-hundred day moving average price of $81.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $109.33. The stock has a market capitalization of $63.71 billion, a PE ratio of 35.44, a PEG ratio of 2.94 and a beta of 1.00.

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

Insider Activity

In other Fortinet news, VP Michael Xie sold 343,106 shares of the company's stock in a transaction on 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 175,737 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 $14,308,506.54. Following the sale, the chief executive officer directly owned 51,396,385 shares of the company's stock, valued at $4,184,693,666.70. This represents a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 17.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.