Fortinet, Inc. $FTNT Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 45.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,959 shares of the software maker’s stock after selling 18,187 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Fortinet were worth $1,846,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after purchasing an additional 221 shares during the period. Bison Wealth LLC bought a new position in Fortinet in the 4th quarter valued at about $585,000. Envestnet Asset Management Inc. increased its stake in Fortinet by 7.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 648,605 shares of the software maker’s stock valued at $68,566,000 after buying an additional 44,216 shares during the period. Brookwood Investment Group LLC acquired a new position in Fortinet during the 2nd quarter valued at about $211,000. Finally, Quaker Wealth Management LLC raised its position in shares of Fortinet by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after buying an additional 726 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

FTNT has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a report on Monday, February 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. Daiwa Securities Group lowered Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a report on Wednesday, November 12th. Finally, TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.42.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $79.20 on Friday. The stock’s fifty day simple moving average is $80.17 and its 200 day simple moving average is $81.33. The stock has a market capitalization of $58.90 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.67 and a beta of 1.06. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $111.31.

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

Insider Activity

In other news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the transaction, the vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their position. 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.