California State Teachers Retirement System Has $75.79 Million Holdings in Fortinet, Inc. $FTNT

California State Teachers Retirement System trimmed its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 4.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 927,431 shares of the software maker’s stock after selling 43,130 shares during the period. California State Teachers Retirement System’s holdings in Fortinet were worth $75,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Expressive Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth $646,000. Trilogy Capital Inc. increased its stake in shares of Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after purchasing an additional 14,076 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Fortinet in the 4th quarter worth $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in Fortinet in the 4th quarter worth $14,638,000. Finally, Thrivent Financial for Lutherans raised its holdings in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FTNT has been the subject of several recent research reports. Royal Bank Of Canada set a $185.00 price target on Fortinet and gave the company a “sector perform” rating in a report on Thursday. Scotiabank reaffirmed a “sector perform” rating and issued a $163.00 price objective on shares of Fortinet in a research note on Thursday. William Blair reaffirmed a “market perform” rating on shares of Fortinet in a research report on Tuesday, July 21st. Piper Sandler reiterated a “neutral” rating and set a $175.00 price objective (up from $110.00) on shares of Fortinet in a research note on Thursday. Finally, Morgan Stanley reissued a “positive” rating and issued a $136.00 target price (up from $133.00) on shares of Fortinet in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $149.55.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported adjusted earnings of $0.90 per share, exceeding the $0.75 consensus estimate, while revenue rose 26% year over year to $2.05 billion, above expectations of $1.89 billion. Fortinet Q2 Earnings Snapshot
• Positive Sentiment: Product revenue surged 52% to $773 million, billings increased 33% to $2.37 billion, and management cited strong demand for AI infrastructure, SASE, firewall and operational-technology security products. FTNT Q2 Earnings Call Highlights
• Positive Sentiment: Fortinet raised fiscal-year 2026 revenue guidance to approximately $8.0 billion-$8.2 billion and EPS guidance to $3.41-$3.47. Third-quarter revenue guidance of $2.01 billion-$2.10 billion and EPS guidance of $0.83-$0.87 also exceed Wall Street estimates. Fortinet Raises Revenue Outlook
• Positive Sentiment: Wall Street became more constructive after the results: BTIG raised its target to $203 with a Buy rating, Rosenblatt lifted its target to $195 with a Buy rating, and Citigroup increased its target to $185 while maintaining Neutral. Analysts Boost Forecasts
• Neutral Sentiment: William Blair maintained a Hold rating, acknowledging strong execution and pricing tailwinds but questioning how durable the acceleration will be. William Blair Maintains Hold
• Negative Sentiment: Some valuation analysis suggests FTNT shares look expensive after a roughly 152% five-year advance, leaving the stock vulnerable if growth or product momentum slows. Fortinet Valuation Analysis

Insiders Place Their Bets

In other news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% 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. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last three months. 17.60% of the stock is owned by company insiders.

Fortinet Price Performance

Shares of Fortinet stock opened at $154.25 on Friday. The stock’s 50-day simple moving average is $149.94 and its 200-day simple moving average is $108.72. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The company has a market capitalization of $113.01 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 4.17 and a beta of 1.09. 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 (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 218.88% and a net margin of 28.17%.The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, analysts expect that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

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.