Epoch Investment Partners Inc. Sells 22,339 Shares of Fortinet, Inc. $FTNT

Epoch Investment Partners Inc. trimmed its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 8.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 251,658 shares of the software maker’s stock after selling 22,339 shares during the period. Epoch Investment Partners Inc.’s holdings in Fortinet were worth $20,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Physician Wealth Advisors Inc. increased its position in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares in the last quarter. Wexford Capital LP bought a new stake in Fortinet in the third quarter worth $25,000. Elyxium Wealth LLC bought a new stake in Fortinet in the fourth quarter worth $27,000. Palisade Asset Management LLC purchased a new stake in shares of Fortinet in the third quarter worth $28,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Fortinet in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FTNT shares. William Blair reaffirmed a “market perform” rating on shares of Fortinet in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Robert W. Baird set a $120.00 price objective on shares of Fortinet in a research note on Tuesday. Piper Sandler lifted their target price on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $165.00 target price (up from $110.00) on shares of Fortinet in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.61.

Fortinet Stock Up 0.5%

FTNT stock opened at $152.37 on Friday. The stock has a market capitalization of $111.63 billion, a P/E ratio of 58.83, a P/E/G ratio of 4.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The business has a fifty day moving average price of $148.02 and a 200-day moving average price of $106.45.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating 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 analysts’ expectations of $1.73 billion. During the same period last year, the firm posted $0.58 earnings per share. Fortinet’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities analysts forecast that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the business’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 completion of the transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company’s stock.

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.