Clearbridge Investments LLC Sells 265,667 Shares of Fortinet, Inc. $FTNT

Clearbridge Investments LLC decreased its position in Fortinet, Inc. (NASDAQ:FTNT) by 27.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 708,668 shares of the software maker’s stock after selling 265,667 shares during the quarter. Clearbridge Investments LLC’s holdings in Fortinet were worth $56,275,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Holdings LLC bought a new stake in Fortinet in the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in Fortinet in the 3rd quarter worth approximately $25,000. Wexford Capital LP bought a new stake in Fortinet in the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC bought a new stake in Fortinet in the 4th quarter worth approximately $27,000. Finally, Palisade Asset Management LLC bought a new stake in Fortinet in the 3rd quarter worth approximately $28,000. Institutional investors own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FTNT. Bank of America lifted their price objective on Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup lifted their price objective on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. UBS Group lifted their price objective on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Truist Financial set a $120.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus set a $85.00 price objective on Fortinet in a research note on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $106.43.

Fortinet Stock Performance

Shares of Fortinet stock opened at $143.04 on Tuesday. The stock’s fifty day moving average is $104.83 and its two-hundred day moving average is $89.39. The company has a market capitalization of $104.80 billion, a PE ratio of 55.23, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $150.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data 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 company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $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, analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last quarter. 17.60% of the stock is owned by insiders.

Fortinet 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.