Sumitomo Mitsui Trust Group Inc. Has $128.27 Million Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• Sumitomo Mitsui Trust Group trimmed its Fortinet stake by 2.5% in Q4 and now holds 1,615,265 shares—about a 0.22% stake—worth roughly $128.27 million.
• Fortinet beat Q4 estimates, reporting $0.81 EPS vs. $0.74 expected and $1.91 billion in revenue (up 14.8% YoY), and guided Q1 2026 EPS to $0.590–0.630 and FY 2026 EPS to $2.940–3.000; the stock carries a consensus "Hold" rating with a $87.84 target.
• Company insiders sold sizable positions on Feb. 2—CEO Ken Xie sold 175,737 shares and VP Michael Xie sold 343,106 shares (combined proceeds ~ $42.2M)—though insiders still own about 18% of the shares while institutions hold ~83.7%.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,615,265 shares of the software maker's stock after selling 41,623 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Fortinet worth $128,268,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in FTNT. Robeco Institutional Asset Management B.V. increased its position in shares of Fortinet by 54.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,522,604 shares of the software maker's stock worth $200,320,000 after purchasing an additional 892,969 shares in the last quarter. Howard Capital Management Inc. increased its position in shares of Fortinet by 2.3% during the 4th quarter. Howard Capital Management Inc. now owns 19,446 shares of the software maker's stock worth $1,544,000 after purchasing an additional 444 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Fortinet by 9.9% during the 4th quarter. Ritholtz Wealth Management now owns 6,807 shares of the software maker's stock worth $541,000 after purchasing an additional 611 shares in the last quarter. Diversify Advisory Services LLC increased its position in shares of Fortinet by 16.5% during the 4th quarter. Diversify Advisory Services LLC now owns 44,677 shares of the software maker's stock worth $3,368,000 after purchasing an additional 6,316 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of Fortinet by 5.5% during the 4th quarter. Apollon Wealth Management LLC now owns 19,100 shares of the software maker's stock worth $1,517,000 after purchasing an additional 992 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Stock Up 2.7%

Shares of NASDAQ FTNT opened at $78.74 on Tuesday. The firm has a market capitalization of $58.26 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $109.33. The firm's 50-day moving average is $81.72 and its 200-day moving average is $81.84.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results 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 net margin of 27.26% and a return on equity of 124.21%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $0.74 EPS. The company's revenue for the quarter was up 14.8% on a year-over-year basis. 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 2.09 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FTNT shares. 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. Evercore set a $80.00 target price on shares of Fortinet in a research report on Friday, February 6th. TD Cowen upgraded shares of Fortinet from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Friday, January 23rd. Rosenblatt Securities increased their target price on shares of Fortinet from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, February 6th. Finally, Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a research report on Wednesday, March 11th. Five research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $87.84.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of Fortinet 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 transaction, the chief executive officer owned 51,396,385 shares of the company's stock, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the transaction, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 18.00% of the stock is owned by company insiders.

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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