Fortinet, Inc. $FTNT Shares Sold by Saturna Capital Corp

Saturna Capital Corp lowered its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 33.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,625 shares of the software maker’s stock after selling 6,709 shares during the period. Saturna Capital Corp’s holdings in Fortinet were worth $1,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FTNT. Dorsey & Whitney Trust CO LLC boosted its position in Fortinet by 2.6% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 7,269 shares of the software maker’s stock worth $577,000 after acquiring an additional 184 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Fortinet by 4.0% during the fourth quarter. Ameritas Investment Partners Inc. now owns 74,285 shares of the software maker’s stock worth $5,899,000 after acquiring an additional 2,864 shares during the last quarter. Wellspring Financial Advisors LLC acquired a new position in Fortinet during the fourth quarter worth about $444,000. Zions Bancorporation National Association UT boosted its position in Fortinet by 13.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 4,395 shares of the software maker’s stock worth $349,000 after acquiring an additional 530 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in Fortinet by 13.8% during the fourth quarter. Metis Global Partners LLC now owns 30,892 shares of the software maker’s stock worth $2,453,000 after acquiring an additional 3,756 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In related news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays set a $115.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Freedom Capital downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Scotiabank lifted their target price on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Citigroup lifted their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Rosenblatt Securities lifted their target price on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $106.43.

Fortinet Price Performance

Fortinet stock opened at $138.88 on Thursday. The company’s 50 day simple moving average is $107.23 and its 200-day simple moving average is $90.23. The company has a market capitalization of $101.75 billion, a price-to-earnings ratio of 53.62, a price-to-earnings-growth ratio of 3.79 and a beta of 1.11. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $150.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

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, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $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, equities research analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

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.