King Luther Capital Management Corp Has $56.47 Million Stock Holdings in Fortinet, Inc. $FTNT

King Luther Capital Management Corp increased its position in Fortinet, Inc. (NASDAQ:FTNT) by 105.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 671,644 shares of the software maker’s stock after buying an additional 344,335 shares during the quarter. King Luther Capital Management Corp’s holdings in Fortinet were worth $56,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Harold Davidson & Associates Inc. grew its holdings in Fortinet by 33.7% during the 3rd quarter. Harold Davidson & Associates Inc. now owns 16,360 shares of the software maker’s stock worth $1,376,000 after acquiring an additional 4,124 shares during the last quarter. MRP Capital Investments LLC bought a new position in shares of Fortinet during the third quarter valued at $2,589,000. Synovus Financial Corp lifted its holdings in shares of Fortinet by 2.3% during the third quarter. Synovus Financial Corp now owns 31,838 shares of the software maker’s stock worth $2,677,000 after purchasing an additional 705 shares during the period. Syon Capital LLC grew its stake in shares of Fortinet by 7.8% in the third quarter. Syon Capital LLC now owns 6,475 shares of the software maker’s stock worth $544,000 after purchasing an additional 466 shares during the last quarter. Finally, Maridea Wealth Management LLC acquired a new stake in Fortinet in the third quarter valued at $417,000. Institutional investors own 83.71% of the company’s stock.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 17.20% of the company’s stock.

Fortinet Stock Down 1.2%

Fortinet stock opened at $80.69 on Thursday. The company has a market capitalization of $60.01 billion, a PE ratio of 33.21, a PEG ratio of 2.82 and a beta of 1.06. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.63. The firm’s fifty day moving average is $80.54 and its 200 day moving average is $81.70. 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 (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. As a group, sell-side analysts predict that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on FTNT. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Mizuho upped their target price on Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a report on Friday, February 6th. HSBC downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, February 6th. Finally, Freedom Capital downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.42.

Fortinet Profile

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.