Nutshell Asset Management Ltd Boosts Holdings in Fortinet, Inc. $FTNT

Nutshell Asset Management Ltd lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 82.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,877 shares of the software maker’s stock after buying an additional 107,623 shares during the quarter. Fortinet comprises 9.5% of Nutshell Asset Management Ltd’s investment portfolio, making the stock its 2nd biggest position. Nutshell Asset Management Ltd’s holdings in Fortinet were worth $20,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LSV Asset Management purchased a new stake in shares of Fortinet during the second quarter worth $25,000. Financial Consulate Inc. purchased a new position in shares of Fortinet in the third quarter valued at $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Fortinet in the third quarter valued at $25,000. Pinnacle Holdings LLC bought a new stake in shares of Fortinet during the 3rd quarter valued at $25,000. Finally, Ameriflex Group Inc. purchased a new stake in Fortinet during the 3rd quarter worth about $25,000. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Down 0.9%

Shares of NASDAQ FTNT opened at $83.67 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average of $80.23 and a 200-day moving average of $81.51. The firm has a market capitalization of $61.91 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 2.89 and a beta of 1.05. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $0.74 earnings per share. Fortinet’s quarterly revenue was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Sell-side analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FTNT shares. Evercore set a $80.00 target price on Fortinet in a research note on Friday, February 6th. Sanford C. Bernstein reissued a “market perform” rating and issued a $83.00 price target on shares of Fortinet in a report on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, February 6th. Finally, Barclays set a $88.00 target price on shares of Fortinet in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.62.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the sale, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the transaction, the vice president owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 17.20% 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.