Fortinet, Inc. $FTNT Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 82.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,239 shares of the software maker’s stock after buying an additional 10,984 shares during the period. Procyon Advisors LLC’s holdings in Fortinet were worth $2,038,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Fortinet by 1.4% in the second quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after purchasing an additional 1,024,516 shares during the last quarter. State Street Corp boosted its position in shares of Fortinet by 3.0% in the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock worth $3,085,244,000 after buying an additional 862,468 shares in the last quarter. Geode Capital Management LLC grew its stake in Fortinet by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after acquiring an additional 828,569 shares during the last quarter. Norges Bank purchased a new position in Fortinet during the 2nd quarter valued at about $1,640,900,000. Finally, Invesco Ltd. increased its holdings in Fortinet by 7.9% during the 2nd quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock valued at $977,718,000 after acquiring an additional 677,654 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: KeyCorp raised multiple quarterly and full‑year EPS forecasts for FY2025–FY2026 (raising FY2026 to $2.55), signaling upward revisions to Fortinet’s near‑term profitability expectations.
• Positive Sentiment: A technical/bullish take argues Fortinet can rebound off a long‑term trendline as the broader tech rally (helped by strong TSMC earnings) lifts security names, providing momentum that could help stop the recent multi‑week slide. Long-Term Bullish Trendline Could Help Fortinet Stock Break Out
• Positive Sentiment: Fortinet will present at the World Economic Forum in Davos and promote its Cybercrime Bounty and other global initiatives—an investor‑friendly visibility boost that underscores partnerships with governments and large institutions and could help commercial momentum. Fortinet to Present on Cybercrime Disruption Strategies at WEF 2026
• Neutral Sentiment: Several brokers (RBC, Piper Sandler, UBS, Citi) have recently issued hold/reiterate notes or modest target tweaks—these keep analyst coverage active but don’t materially change consensus conviction. Here’s What Analysts Think About Fortinet (FTNT)
• Neutral Sentiment: Short‑term trading volatility has been notable (recent sessions with above‑average volume and a mid‑January pullback); some coverage pieces note recent intraday declines that may reflect broader sector moves rather than company‑specific news. Fortinet (FTNT) Declines More Than Market
• Negative Sentiment: A Barron’s report that China ordered domestic firms to avoid certain U.S. cybersecurity software sparked a selloff in U.S. security names, renewing geopolitical/configuration risk for Fortinet’s China exposure and cloud/customer access in that market. Palo Alto, Fortinet Stocks Are Diving
• Negative Sentiment: J.P. Morgan reiterated a Sell rating, citing elevated memory costs and margin pressure that could cap upside and justify a lower target—this keeps downside risk top‑of‑mind for value/margin‑sensitive investors. Fortinet Downgraded: Elevated Memory Costs and Margin Risk Drive Sustained Sell Rating
• Negative Sentiment: Insider selling and mixed institutional positioning flagged in recent data (notable insider share sales and shifts in hedge fund holdings) add a cautionary signal for sentiment and potential supply pressure. QuiverQuant FTNT Summary (includes insider/inst. activity)

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $75.00 price target (down previously from $85.00) on shares of Fortinet in a report on Wednesday, December 17th. Jefferies Financial Group reduced their target price on Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Daiwa Capital Markets downgraded Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a research report on Wednesday, November 12th. Barclays cut their price target on Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Finally, TD Cowen decreased their price objective on Fortinet from $105.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.30.

Fortinet Trading Down 0.1%

Shares of Fortinet stock opened at $76.32 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The business’s fifty day moving average is $80.78 and its two-hundred day moving average is $85.63. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The firm has a market cap of $56.76 billion, a PE ratio of 31.41, a P/E/G ratio of 2.67 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the completion of the sale, the vice president directly owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the transaction, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This trade represents a 0.31% 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.

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.