Epoch Investment Partners Inc. Sells 22,339 Shares of Fortinet, Inc. $FTNT

Epoch Investment Partners Inc. lessened its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 251,658 shares of the software maker’s stock after selling 22,339 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Fortinet were worth $20,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FTNT. State Street Corp raised its holdings in Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after buying an additional 477,397 shares during the last quarter. Norges Bank bought a new stake in Fortinet in the 4th quarter worth $1,152,917,000. Bank of New York Mellon Corp increased its position in shares of Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after acquiring an additional 893,190 shares during the period. First Trust Advisors LP increased its position in shares of Fortinet by 45.5% in the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after acquiring an additional 3,598,487 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 0.5%

Shares of FTNT opened at $152.37 on Friday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $148.02 and its 200-day moving average price is $106.45. The firm has a market capitalization of $111.63 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 4.14 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. Fortinet’s revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Sell-side analysts anticipate that Fortinet, Inc. will post 2.8 EPS for the current year.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of analyst reports. Truist Financial set a $183.00 target price on shares of Fortinet and gave the stock a “buy” rating in a report on Tuesday. Mizuho set a $125.00 price target on Fortinet and gave the company an “underperform” rating in a report on Wednesday, July 15th. Bank of America upped their price target on Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 8th. TD Cowen reiterated a “buy” rating and issued a $215.00 price objective (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Finally, Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.61.

Insiders Place Their Bets

In related news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company’s stock.

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.