STF Management LP Sells 7,435 Shares of Fortinet, Inc. $FTNT

Posted by George Bondi on May 17th, 2026

STF Management LP reduced its position in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 64.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,189 shares of the software maker’s stock after selling 7,435 shares during the period. STF Management LP’s holdings in Fortinet were worth $333,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Allstate Corp purchased a new stake in shares of Fortinet during the 3rd quarter valued at $2,034,000. Trilogy Capital Inc. increased its position in shares of Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after purchasing an additional 14,076 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Fortinet by 465.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock valued at $64,255,000 after purchasing an additional 622,809 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Fortinet during the 3rd quarter valued at $1,177,000. Finally, Victory Capital Management Inc. increased its position in shares of Fortinet by 5.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock valued at $138,874,000 after purchasing an additional 90,284 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Zacks highlighted Fortinet as one of several security stocks benefiting from surging demand for cybersecurity solutions as companies accelerate digital transformation and cloud migration. 4 Security Stocks to Focus on From a Flourishing Industry
Positive Sentiment: Scotiabank raised its FY2026 EPS estimate for Fortinet to $2.76 from $2.62, which can support investor confidence in earnings power even though the firm kept a Sector Perform rating and a $110 target.
Positive Sentiment: Multiple market write-ups pointed to Fortinet’s strong Q1 beat, AI-driven demand, and institutional buying as reasons the stock has maintained strong momentum after earnings. Fortinet Stock’s Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
Neutral Sentiment: Scotiabank also trimmed its FY2027 EPS estimate to $2.95 from $3.02, which is a mild headwind but not enough to offset the more upbeat near-term outlook.
Neutral Sentiment: Fortinet was mentioned in broader cybersecurity and market commentary alongside peers such as CrowdStrike and Okta, reinforcing sector strength rather than providing company-specific news.

Fortinet Trading Up 0.8%

Shares of FTNT opened at $122.78 on Friday. The business has a 50-day moving average of $87.51 and a 200 day moving average of $83.37. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $123.33. The firm has a market cap of $89.95 billion, a P/E ratio of 47.41, a price-to-earnings-growth ratio of 3.38 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter 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. As a group, research analysts forecast that Fortinet, Inc. will post 2.77 EPS for the current year.

Insider Activity

In other Fortinet news, VP Michael Xie sold 2,478 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares in the company, valued at $882,456,986.13. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This trade represents a 0.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. 17.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

FTNT has been the subject of several research analyst reports. TD Cowen reaffirmed a “buy” rating and set a $125.00 target price (up from $100.00) on shares of Fortinet in a research report on Thursday, May 7th. Susquehanna raised their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. BTIG Research raised Fortinet from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Thursday, May 7th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $107.00 price objective (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and an average price target of $100.45.

View Our Latest Analysis on Fortinet

Fortinet Profile

(Free Report)

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.