Fortinet, Inc. $FTNT Shares Sold by Empirical Asset Management LLC

Empirical Asset Management LLC cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 42.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,349 shares of the software maker’s stock after selling 6,275 shares during the period. Empirical Asset Management LLC’s holdings in Fortinet were worth $663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Fortinet by 12.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,522 shares of the software maker’s stock valued at $597,000 after purchasing an additional 857 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Fortinet during the fourth quarter valued at approximately $181,000. FourThought Financial Partners LLC lifted its stake in Fortinet by 3.0% during the fourth quarter. FourThought Financial Partners LLC now owns 38,456 shares of the software maker’s stock valued at $3,054,000 after purchasing an additional 1,131 shares during the last quarter. Mach 1 Financial Group LLC acquired a new stake in Fortinet during the fourth quarter valued at approximately $534,000. Finally, Leonteq Securities AG acquired a new stake in Fortinet during the fourth quarter valued at approximately $10,422,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on FTNT. Royal Bank Of Canada reissued a “sector perform” rating and set a $107.00 target price (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. Stephens set a $115.00 target price on shares of Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Mizuho increased their target price on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Finally, Evercore set a $80.00 price target on shares of Fortinet in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.83.

Fortinet Stock Up 3.5%

Shares of NASDAQ:FTNT opened at $133.93 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market cap of $98.12 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 3.56 and a beta of 0.92. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $134.19. The firm has a 50 day simple moving average of $92.07 and a 200 day simple moving average of $84.92.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, research analysts expect that Fortinet, Inc. will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This represents a 0.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 153,848 shares of company stock worth $19,446,115. 17.60% of the stock is currently 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.