Stephens Investment Management Group LLC Trims Stock Holdings in Fortinet, Inc. $FTNT

Stephens Investment Management Group LLC decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,291 shares of the software maker’s stock after selling 18,550 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Fortinet were worth $8,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Country Trust Bank raised its stake in shares of Fortinet by 11.9% during the 3rd quarter. Country Trust Bank now owns 280,970 shares of the software maker’s stock valued at $23,624,000 after purchasing an additional 29,870 shares during the period. Wright Investors Service Inc. grew its holdings in Fortinet by 23.0% during the 3rd quarter. Wright Investors Service Inc. now owns 5,740 shares of the software maker’s stock valued at $483,000 after buying an additional 1,073 shares in the last quarter. BXM Wealth LLC increased its position in shares of Fortinet by 19.6% during the third quarter. BXM Wealth LLC now owns 5,500 shares of the software maker’s stock valued at $462,000 after buying an additional 900 shares during the period. Procyon Advisors LLC increased its position in shares of Fortinet by 82.9% during the third quarter. Procyon Advisors LLC now owns 24,239 shares of the software maker’s stock valued at $2,038,000 after buying an additional 10,984 shares during the period. Finally, PKO Investment Management Joint Stock Co purchased a new stake in shares of Fortinet in the third quarter worth about $1,682,000. 83.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,546 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by company insiders.

Fortinet Stock Down 1.2%

FTNT opened at $75.38 on Friday. The stock has a market cap of $56.06 billion, a PE ratio of 31.02, a P/E/G ratio of 2.63 and a beta of 1.07. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The business’s fifty day simple moving average is $80.65 and its 200 day simple moving average is $85.30.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: KeyCorp raised multiple near‑term and full‑year EPS forecasts (Q4 2025–Q4 2026 and FY2025–FY2026), lifting FY2026 to $2.55 and trimming quarterly variance — a direct fundamental tailwind to earnings expectations (no link provided).
• Positive Sentiment: Zacks highlights Fortinet as a “strong growth stock,” emphasizing growth/style scores that may attract momentum and growth-oriented investors. Here’s Why Fortinet (FTNT) is a Strong Growth Stock
• Positive Sentiment: Forbes notes a long‑term bullish trendline and a sectorwide tailwind from semiconductor earnings (TSM) that could help FTNT break out of recent consolidation — a technical catalyst for a recovery move. Long-Term Bullish Trendline Could Help Fortinet Stock Break Out
• Neutral Sentiment: InsiderMonkey summarizes recent analyst activity: RBC reiterated a Hold (PT $85) while Piper Sandler adjusted its target — useful context but not a clear directional driver. Here’s What Analysts Think About Fortinet (FTNT)
• Neutral Sentiment: UBS issued a Hold on FTNT — a conservative stance that keeps shares range‑bound unless upgraded. Fortinet (FTNT) Gets a Hold from UBS
• Neutral Sentiment: Globe and Mail ran an analyst roundup on Fortinet — additional commentary but no single decisive call. Analysts Offer Insights on Technology Companies: Fortinet (FTNT) and Veritone (VERI)
• Negative Sentiment: J.P. Morgan maintained a Sell rating, citing elevated memory costs and margin risk and keeping a $75 price target — a notable bearish view that pressures sentiment and could limit upside. Fortinet Downgraded: Elevated Memory Costs and Margin Risk Drive Sustained Sell Rating
• Negative Sentiment: Recent market commentary notes FTNT has declined more than the market in recent sessions and remains materially below its 50/200‑day moving averages, underscoring near‑term technical weakness. Fortinet (FTNT) Declines More Than Market: Some Information for Investors

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTNT. Piper Sandler reaffirmed a “neutral” rating and set a $90.00 price objective (up previously from $85.00) on shares of Fortinet in a research note on Monday, January 5th. Jefferies Financial Group reduced their price target on shares of Fortinet from $85.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. TD Cowen lowered their price objective on Fortinet from $105.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Royal Bank Of Canada dropped their price objective on Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, November 6th. Finally, Barclays decreased their target price on Fortinet from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $90.30.

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.