Stenger Family Office LLC Cuts Stock Holdings in Fortinet, Inc. $FTNT

Stenger Family Office LLC lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 66.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,819 shares of the software maker’s stock after selling 9,512 shares during the quarter. Stenger Family Office LLC’s holdings in Fortinet were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FTNT. Pinnacle Holdings LLC purchased a new stake in Fortinet during the 3rd quarter valued at $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet in the third quarter worth $25,000. Wexford Capital LP purchased a new position in shares of Fortinet in the third quarter worth $25,000. Palisade Asset Management LLC bought a new position in shares of Fortinet during the third quarter valued at $28,000. Finally, Elyxium Wealth LLC bought a new position in shares of Fortinet during the fourth quarter valued at $27,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Performance

Shares of FTNT stock opened at $144.73 on Friday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm has a market capitalization of $106.04 billion, a PE ratio of 55.88, a PEG ratio of 3.96 and a beta of 1.11. The stock has a fifty day simple moving average of $116.11 and a two-hundred day simple moving average of $93.37.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business 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 earned $0.58 earnings per share. The business’s quarterly revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, analysts predict that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FTNT shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research report on Tuesday, April 21st. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Arete Research set a $104.00 price objective on shares of Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. Barclays set a $155.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research report on Friday, June 12th. Finally, BTIG Research raised their target price on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus price target of $107.77.

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.