Strive Asset Management LLC Takes Position in Fortinet, Inc. $FTNT

Strive Asset Management LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,000 shares of the software maker’s stock, valued at approximately $1,261,000.

Other large investors also recently bought and sold shares of the company. 111 Capital lifted its holdings in shares of Fortinet by 132.9% in the 3rd quarter. 111 Capital now owns 5,020 shares of the software maker’s stock valued at $422,000 after purchasing an additional 2,865 shares during the last quarter. Elo Mutual Pension Insurance Co grew its stake in Fortinet by 40.9% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 121,011 shares of the software maker’s stock worth $10,175,000 after buying an additional 35,110 shares during the last quarter. Fairtree Asset Management Pty Ltd increased its position in Fortinet by 184.7% during the third quarter. Fairtree Asset Management Pty Ltd now owns 18,731 shares of the software maker’s stock worth $1,575,000 after buying an additional 12,151 shares during the period. Provenance Wealth Advisors LLC lifted its stake in Fortinet by 18.9% in the third quarter. Provenance Wealth Advisors LLC now owns 1,605 shares of the software maker’s stock valued at $135,000 after buying an additional 255 shares during the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of Fortinet by 2.1% in the third quarter. APG Asset Management N.V. now owns 412,417 shares of the software maker’s stock valued at $34,676,000 after acquiring an additional 8,400 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of recent research reports. Barclays set a $88.00 target price on shares of Fortinet in a report on Tuesday, February 3rd. Sanford C. Bernstein restated a “market perform” rating and issued a $83.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Citigroup reaffirmed a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Monday, February 9th. Evercore set a $80.00 price target on Fortinet in a research report on Friday, February 6th. Finally, Scotiabank cut Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective for the company. in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.62.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $79.18 on Tuesday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $110.67. The company has a 50-day moving average price of $80.09 and a 200 day moving average price of $81.41. The company has a market cap of $58.59 billion, a P/E ratio of 32.58, a PEG ratio of 2.73 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 (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%.The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction dated 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 transaction, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by company insiders.

Fortinet Company 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.