Fortinet, Inc. $FTNT Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,301 shares of the software maker’s stock after selling 8,991 shares during the quarter. Neuberger Berman Group LLC’s holdings in Fortinet were worth $6,584,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. LSV Asset Management purchased a new stake in shares of Fortinet in the 2nd quarter valued at $25,000. Financial Consulate Inc. purchased a new position in shares of Fortinet during the third quarter worth $25,000. Steigerwald Gordon & Koch Inc. acquired a new position in Fortinet during the third quarter valued at $25,000. Pinnacle Holdings LLC acquired a new position in Fortinet during the third quarter valued at $25,000. Finally, SJS Investment Consulting Inc. boosted its holdings in Fortinet by 1,556.5% in the third quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock valued at $32,000 after purchasing an additional 358 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Performance

Shares of FTNT stock opened at $83.67 on Friday. 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 12-month low of $70.12 and a 12-month high of $109.33. The business’s 50 day moving average is $80.23 and its two-hundred day moving average is $81.50. The company has a market capitalization of $61.91 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.89 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating 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 analysts’ expectations of $1.86 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the sale, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FTNT shares. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Citigroup restated a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. Wells Fargo & Company started coverage on Fortinet in a report on Tuesday, March 3rd. They set an “underweight” rating and a $64.00 target price on the stock. Morgan Stanley reiterated an “underweight” rating and set a $70.00 price target (up from $66.00) on shares of Fortinet in a research report on Thursday, December 18th. Finally, Jefferies Financial Group set a $90.00 price target on Fortinet in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.62.

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.