4,226 Fortinet, Inc. $FTNT Shares Sold by Inscription Capital LLC

Inscription Capital LLC cut its position in Fortinet, Inc. (NASDAQ:FTNT) by 47.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,594 shares of the software maker’s stock after selling 4,226 shares during the quarter. Inscription Capital LLC’s holdings in Fortinet were worth $821,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of Fortinet by 9.8% in the third quarter. Commonwealth Equity Services LLC now owns 105,409 shares of the software maker’s stock worth $18,843,000 after purchasing an additional 9,372 shares during the period. Collaborative Fund Advisors LLC boosted its position in shares of Fortinet by 31.1% during the 3rd quarter. Collaborative Fund Advisors LLC now owns 2,277 shares of the software maker’s stock worth $407,000 after acquiring an additional 540 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Fortinet by 11.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 23,293 shares of the software maker’s stock worth $4,193,000 after acquiring an additional 2,322 shares in the last quarter. Ascent Group LLC boosted its position in shares of Fortinet by 9.8% during the 3rd quarter. Ascent Group LLC now owns 4,420 shares of the software maker’s stock worth $790,000 after acquiring an additional 393 shares in the last quarter. Finally, 3Chopt Investment Partners LLC increased its stake in Fortinet by 13.1% in the third quarter. 3Chopt Investment Partners LLC now owns 1,555 shares of the software maker’s stock valued at $278,000 after acquiring an additional 180 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of research analyst reports. Robert W. Baird set a $165.00 target price on Fortinet and gave the company a “neutral” rating in a report on Thursday, July 30th. Stifel Nicolaus dropped their price objective on Fortinet from $175.00 to $140.00 and set a “hold” rating for the company in a research report on Thursday, October 29th. Arete Research lowered Fortinet from a “buy” rating to a “sell” rating and set a $117.00 price objective on the stock. in a research note on Wednesday, October 21st. Jefferies Financial Group restated a “hold” rating and issued a $145.00 price target on shares of Fortinet in a research note on Thursday, October 29th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $145.00 price target (up from $102.00) on shares of Fortinet in a report on Thursday, September 17th. Eleven analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $150.44.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Scotiabank raised its FY2026 and FY2027 earnings-per-share estimates to $3.21 and $3.50, respectively, while keeping its “Sector Perform” rating and $140 price target. The higher forecasts offer a modest positive signal, though the FY2026 estimate matches consensus. Scotiabank estimate update
• Positive Sentiment: Fortinet introduced FortiGuard Inline AI Security, which adds inspection and controls for enterprise generative-AI use, and FortiLink SASE, a cloud-delivered security service for distributed sites. The launches broaden its product portfolio and target evolving security needs. Fortinet unveiled two new security services
• Positive Sentiment: FortiAIGate is now available on Equinix’s Distributed AI Hub, giving customers a validated architecture to secure and govern AI across distributed environments. The partnership could support demand for Fortinet’s AI-security products. Fortinet and Equinix secure distributed AI at scale
• Negative Sentiment: A recent analysis highlighted a cut to the services outlook and questioned whether Fortinet’s valuation is supported by its future cash generation. The concern may keep investors focused on the pace of service-business growth. Fortinet stock valuation and service outlook analysis
• Negative Sentiment: ETFs were net sellers of Fortinet shares on Nov. 3, with $15.7 million in net sales, a possible near-term source of selling pressure. ETF trading activity
• Negative Sentiment: Insider Ken Xie reportedly sold 161,483 shares. Such sales can weigh on sentiment, although the report does not establish the reason for the transaction. Insider share sale report

Fortinet Trading Down 3.0%

NASDAQ FTNT traded down $3.67 during trading hours on Friday, reaching $118.84. The company’s stock had a trading volume of 8,025,051 shares, compared to its average volume of 5,436,355. The firm has a fifty day simple moving average of $168.06 and a 200-day simple moving average of $129.50. The stock has a market cap of $87.31 billion, a P/E ratio of 38.58, a P/E/G ratio of 2.43 and a beta of 1.04. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $197.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.40 and a quick ratio of 1.28.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, October 28th. The software maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Fortinet had a return on equity of 152.72% and a net margin of 28.96%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Equities analysts forecast that Fortinet, Inc. will post 3.21 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $129.49, for a total value of $404,138.29. Following the completion of the sale, the vice president directly owned 9,918,360 shares in the company, valued at $1,284,328,436.40. This trade represents a 0.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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, COO John Whittle sold 53,865 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $165.44, for a total value of $8,911,425.60. Following the completion of the transaction, the chief operating officer owned 96,987 shares in the company, valued at approximately $16,045,529.28. The trade was a 35.71% 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 221,304 shares of company stock valued at $30,675,309 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

About Fortinet

Fortinet, Inc is a cybersecurity and networking company that provides products and services to help organizations protect their networks, devices, applications, and cloud environments. Its offerings include FortiGate next-generation firewalls, the FortiOS operating system, and security, endpoint, cloud, and secure access service edge (SASE) solutions.

The company’s Security Fabric platform is designed to integrate security and networking products and support centralized visibility and management.