Sterling Capital Management LLC Sells 11,310 Shares of Fortinet, Inc. $FTNT

Sterling Capital Management LLC lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 42.4% in the 1st quarter, Holdings Channel reports. The firm owned 15,344 shares of the software maker’s stock after selling 11,310 shares during the quarter. Sterling Capital Management LLC’s holdings in Fortinet were worth $1,254,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FTNT. Pinnacle Holdings LLC acquired a new position in Fortinet during the third quarter worth $25,000. Ameriflex Group Inc. acquired a new stake in shares of Fortinet in the third quarter worth about $25,000. Wexford Capital LP bought a new stake in shares of Fortinet during the 3rd quarter worth about $25,000. Elyxium Wealth LLC acquired a new position in shares of Fortinet during the 4th quarter valued at about $27,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Fortinet during the 3rd quarter valued at about $28,000. 83.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by company insiders.

Fortinet Stock Performance

FTNT opened at $155.42 on Tuesday. The firm has a market capitalization of $113.87 billion, a P/E ratio of 60.01, a price-to-earnings-growth ratio of 4.14 and a beta of 1.11. The stock’s 50 day moving average price is $124.48 and its two-hundred day moving average price is $96.20. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $159.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business posted $0.58 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, equities analysts forecast that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

FTNT has been the subject of several analyst reports. Stifel Nicolaus set a $85.00 target price on Fortinet in a report on Wednesday, March 11th. Citigroup increased their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price objective on shares of Fortinet in a research note on Thursday, May 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a report on Tuesday, April 21st. Finally, Arete Research set a $104.00 target price on shares of Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $107.58.

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.