Crossmark Global Holdings Inc. Sells 94,164 Shares of Fortinet, Inc. $FTNT

Crossmark Global Holdings Inc. decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 40.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,181 shares of the software maker’s stock after selling 94,164 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Fortinet were worth $11,450,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. LSV Asset Management purchased a new stake in shares of Fortinet during the 2nd quarter valued at about $25,000. Financial Consulate Inc. bought a new stake in Fortinet during the third quarter worth approximately $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in Fortinet during the third quarter worth approximately $25,000. Pinnacle Holdings LLC purchased a new stake in Fortinet during the third quarter valued at approximately $25,000. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Fortinet by 1,556.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock valued at $32,000 after purchasing an additional 358 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 175,737 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 value of $14,308,506.54. Following the completion of the sale, the chief executive officer directly owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 343,106 shares of the stock in a transaction on Monday, February 2nd. The stock was 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 in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FTNT. Royal Bank Of Canada reissued a “sector perform” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Friday, February 6th. Scotiabank cut shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective on the stock. in a research report on Monday, February 2nd. Robert W. Baird set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. Citigroup reaffirmed a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. Finally, Rosenblatt Securities upped their price target on shares of Fortinet from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 6th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $88.62.

Fortinet Trading Up 2.0%

FTNT stock opened at $84.42 on Friday. The company has a market capitalization of $62.46 billion, a PE ratio of 34.74, a P/E/G ratio of 2.86 and a beta of 1.05. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33. The firm’s 50-day moving average is $80.19 and its 200 day moving average is $81.46. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $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. On average, research analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current 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.