Fortinet, Inc. $FTNT Shares Sold by Strs Ohio

Strs Ohio lowered its holdings in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,188 shares of the software maker’s stock after selling 5,807 shares during the period. Strs Ohio’s holdings in Fortinet were worth $11,450,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Consulate Inc. purchased a new stake in Fortinet in the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Pinnacle Holdings LLC purchased a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Ameriflex Group Inc. acquired a new stake in shares of Fortinet in the third quarter worth approximately $25,000. Finally, Wexford Capital LP acquired a new stake in shares of Fortinet in the third quarter worth approximately $25,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Scotiabank cut shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective for the company. in a research note on Monday, February 2nd. Citigroup restated a “neutral” rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a report on Monday, February 9th. UBS Group reaffirmed a “neutral” rating and issued a $90.00 target price on shares of Fortinet in a research report on Friday, February 6th. Finally, Barclays set a $88.00 target price on Fortinet in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-one have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $88.38.

Get Our Latest Research Report on Fortinet

Fortinet Trading Up 3.4%

Shares of FTNT stock opened at $89.24 on Tuesday. 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 fifty-two week low of $70.12 and a fifty-two week high of $109.33. The firm’s 50 day moving average price is $81.83 and its two-hundred day moving average price is $81.72. The stock has a market cap of $65.33 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 2.96 and a beta of 0.92.

Fortinet (NASDAQ:FTNT – Get Free Report) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm 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. On average, analysts anticipate that Fortinet, Inc. will post 2.63 EPS for the current year.

Fortinet Company Profile

(Free Report)

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.

Further Reading

• Five stocks we like better than Fortinet

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT – Free Report).