Vanguard Group Inc. Decreases Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• Vanguard Group Inc. reduced its Fortinet stake by 2.4% in Q4, selling 1,835,714 shares and holding 73,745,561 shares (about 9.92% of the company, valued at ~$5.86 billion).
• EPS beat and guidance: Fortinet reported Q4 EPS of $0.81 vs. $0.74 expected and revenue of $1.91B (up 14.8% YoY), and set Q1 2026 guidance of $0.590–0.630 and FY2026 guidance of $2.940–3.000; analysts’ consensus rating is "Hold" with an average price target of $87.72.
• Insider activity: VP Michael Xie and CEO Ken Xie sold 343,106 and 175,737 shares respectively on Feb 2, while insiders own 18% and institutional investors own about 83.71% of the stock.

Vanguard Group Inc. decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,745,561 shares of the software maker's stock after selling 1,835,714 shares during the period. Vanguard Group Inc. owned about 9.92% of Fortinet worth $5,856,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allstate Corp purchased a new position in shares of Fortinet during the 3rd quarter valued at approximately $2,034,000. Asset Management One Co. Ltd. lifted its holdings in Fortinet by 4.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker's stock valued at $33,824,000 after purchasing an additional 17,892 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Fortinet by 465.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker's stock valued at $64,255,000 after purchasing an additional 622,809 shares in the last quarter. Trilogy Capital Inc. lifted its holdings in Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock valued at $3,506,000 after purchasing an additional 14,076 shares in the last quarter. Finally, Machina Capital S.A.S. purchased a new position in Fortinet in the 3rd quarter valued at $1,177,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Fortinet Stock Up 0.0%

Shares of FTNT opened at $84.37 on Monday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $109.33. The company has a market capitalization of $62.43 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. The stock has a fifty day simple moving average of $81.59 and a two-hundred day simple moving average of $81.68. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40.

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, topping analysts' consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company 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. As a group, equities analysts forecast that Fortinet, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group set a $90.00 price objective on Fortinet in a report on Friday, February 6th. Freedom Capital lowered Fortinet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. Rosenblatt Securities raised their price objective on Fortinet from $100.00 to $105.00 and gave the company a "buy" rating in a report on Friday, February 6th. Evercore set a $80.00 price objective on Fortinet in a report on Friday, February 6th. Finally, Piper Sandler restated a "neutral" rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a report on Monday, January 5th. Five analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Fortinet presently has an average rating of "Hold" and an average price target of $87.72.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 343,106 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the sale, the vice president directly owned 10,210,282 shares of the company's stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the firm's stock in a transaction 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 completion of 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 trade represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is 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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