Fortinet, Inc. $FTNT Stock Position Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 11.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,902,901 shares of the software maker’s stock after selling 248,818 shares during the period. Pictet Asset Management Holding SA’s holdings in Fortinet were worth $340,053,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verus Capital Partners LLC bought a new stake in Fortinet during the third quarter worth about $322,000. Parallel Advisors LLC raised its position in shares of Fortinet by 4.7% during the third quarter. Parallel Advisors LLC now owns 9,948 shares of the software maker’s stock worth $1,778,000 after acquiring an additional 446 shares during the last quarter. United Advisor Group LLC bought a new stake in Fortinet during the 3rd quarter worth about $643,000. Providence First Trust Co acquired a new position in Fortinet in the third quarter valued at approximately $958,000. Finally, Allegiance Financial Group Advisory Services LLC lifted its stake in shares of Fortinet by 23.0% in the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 6,689 shares of the software maker’s stock valued at $1,196,000 after purchasing an additional 1,250 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $118.84 on Friday. The stock has a market capitalization of $87.31 billion, a PE ratio of 38.58, a price-to-earnings-growth ratio of 2.28 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.28 and a current ratio of 1.40. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $197.13. The stock has a 50 day moving average price of $168.06 and a 200 day moving average price of $129.50.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, October 28th. The software maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Fortinet had a net margin of 28.96% and a return on equity of 152.72%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the business earned $0.74 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis. Analysts predict that Fortinet, Inc. will post 3.21 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total transaction of $478,377.90. Following the transaction, the chief operating officer owned 96,987 shares of the company’s stock, valued at $16,365,586.38. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $129.49, for a total value of $404,138.29. Following the transaction, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,284,328,436.40. This trade represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 221,304 shares of company stock worth $30,675,309. Insiders own 17.60% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Scotiabank raised its FY2026 and FY2027 earnings-per-share estimates to $3.21 and $3.50, respectively, while keeping its “Sector Perform” rating and $140 price target. The higher forecasts offer a modest positive signal, though the FY2026 estimate matches consensus. Scotiabank estimate update
• Positive Sentiment: Fortinet introduced FortiGuard Inline AI Security, which adds inspection and controls for enterprise generative-AI use, and FortiLink SASE, a cloud-delivered security service for distributed sites. The launches broaden its product portfolio and target evolving security needs. Fortinet unveiled two new security services
• Positive Sentiment: FortiAIGate is now available on Equinix’s Distributed AI Hub, giving customers a validated architecture to secure and govern AI across distributed environments. The partnership could support demand for Fortinet’s AI-security products. Fortinet and Equinix secure distributed AI at scale
• Negative Sentiment: A recent analysis highlighted a cut to the services outlook and questioned whether Fortinet’s valuation is supported by its future cash generation. The concern may keep investors focused on the pace of service-business growth. Fortinet stock valuation and service outlook analysis
• Negative Sentiment: ETFs were net sellers of Fortinet shares on Nov. 3, with $15.7 million in net sales, a possible near-term source of selling pressure. ETF trading activity
• Negative Sentiment: Insider Ken Xie reportedly sold 161,483 shares. Such sales can weigh on sentiment, although the report does not establish the reason for the transaction. Insider share sale report

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FTNT. JPMorgan Chase & Co. increased their price target on shares of Fortinet from $118.00 to $140.00 and gave the company an “underweight” rating in a research report on Friday, October 23rd. William Blair reissued a “market perform” rating on shares of Fortinet in a report on Tuesday, July 21st. Rosenblatt Securities lowered their price objective on shares of Fortinet from $195.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Piper Sandler set a $140.00 price objective on Fortinet and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Finally, Morgan Stanley restated a “positive” rating and set a $136.00 target price (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $150.44.

About Fortinet

Fortinet, Inc is a cybersecurity and networking company that provides products and services to help organizations protect their networks, devices, applications, and cloud environments. Its offerings include FortiGate next-generation firewalls, the FortiOS operating system, and security, endpoint, cloud, and secure access service edge (SASE) solutions.

The company’s Security Fabric platform is designed to integrate security and networking products and support centralized visibility and management.