Sarasin & Partners LLP Sells 115,962 Shares of Fortinet, Inc. $FTNT

Sarasin & Partners LLP lessened its stake in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,778,041 shares of the software maker’s stock after selling 115,962 shares during the quarter. Fortinet comprises 2.3% of Sarasin & Partners LLP’s holdings, making the stock its 17th largest position. Sarasin & Partners LLP’s holdings in Fortinet were worth $220,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allstate Corp purchased a new position in Fortinet during the 3rd quarter worth $2,034,000. Asset Management One Co. Ltd. lifted its holdings in shares of Fortinet by 4.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock worth $33,824,000 after buying an additional 17,892 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Fortinet by 465.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock worth $64,255,000 after buying an additional 622,809 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of Fortinet during the 3rd quarter worth $1,177,000. Finally, Victory Capital Management Inc. increased its stake in shares of Fortinet by 5.8% during the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock valued at $138,874,000 after buying an additional 90,284 shares during the period. Institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other Fortinet news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated 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 completion of the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the sale, the chief executive officer owned 51,396,385 shares in the company, 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 Stock Performance

FTNT opened at $81.40 on Friday. The company has a market cap of $60.23 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.81 and a beta of 1.05. 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 firm’s 50-day moving average price is $81.10 and its 200-day moving average price is $81.85. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $109.33.

Fortinet (NASDAQ:FTNT – Get Free Report) last released its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the business earned $0.74 EPS. Fortinet’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 anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FTNT. BMO Capital Markets upped their price objective on shares of Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a research note on Monday, February 9th. Citigroup reissued a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Monday, February 9th. Freedom Capital lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. upped their price target on shares of Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, February 6th. Finally, UBS Group reiterated a “neutral” rating and set a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $88.62.

Check Out Our Latest Stock Analysis on FTNT

Fortinet Company Profile

(Free Report)

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.

Recommended Stories

• Five stocks we like better than Fortinet

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT – Free Report).