Erste Asset Management GmbH Sells 183,128 Shares of Fortinet, Inc. $FTNT

Erste Asset Management GmbH decreased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 92.3% during the third quarter, HoldingsChannel.com reports. The firm owned 15,288 shares of the software maker’s stock after selling 183,128 shares during the quarter. Erste Asset Management GmbH’s holdings in Fortinet were worth $1,270,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. LSV Asset Management bought a new stake in Fortinet during the 2nd quarter valued at about $25,000. Financial Consulate Inc. purchased a new stake in shares of Fortinet in the third quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. bought a new position in Fortinet in the third quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in Fortinet during the 2nd quarter worth $40,000. Finally, SJS Investment Consulting Inc. raised its position in Fortinet by 1,556.5% during 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 in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ken Xie sold 175,737 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 18.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Piper Sandler reissued a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. 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. Robert W. Baird set a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. UBS Group reiterated a “neutral” rating and set a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Finally, Truist Financial set a $88.00 price objective on shares of Fortinet in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.42.

Fortinet Stock Performance

FTNT stock opened at $79.03 on Monday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $110.67. The firm has a market cap of $58.48 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. The firm has a 50-day simple moving average of $80.14 and a two-hundred day simple moving average of $81.40.

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