Fortinet (NASDAQ:FTNT) VP Michael Xie Sells 3,121 Shares of Company Stock

Posted by Geri Gentry on Nov 3rd, 2026

Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $129.49, for a total value of $404,138.29. Following the completion of the sale, the vice president owned 9,918,360 shares in the company, valued at $1,284,328,436.40. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

Fortinet Stock Performance

Shares of Fortinet stock traded up $1.90 during trading on Tuesday, hitting $128.11. 5,964,432 shares of the stock were exchanged, compared to its average volume of 5,889,527. The stock’s fifty day moving average is $170.80 and its 200 day moving average is $128.52. The stock has a market cap of $94.00 billion, a PE ratio of 41.59, a P/E/G ratio of 3.25 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $197.13.

Fortinet (NASDAQ:FTNT – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The software maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Fortinet had a net margin of 28.96% and a return on equity of 182.65%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 3.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FTNT. Wedbush reaffirmed a “neutral” rating and set a $140.00 price target (down from $155.00) on shares of Fortinet in a report on Thursday, October 29th. Morgan Stanley reaffirmed a “positive” rating and set a $136.00 target price (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Jefferies Financial Group reiterated a “hold” rating and set a $145.00 price target on shares of Fortinet in a research report on Thursday, October 29th. Bank of America lowered Fortinet from a “buy” rating to a “neutral” rating and set a $140.00 price target on the stock. in a report on Thursday, October 29th. Finally, Robert W. Baird set a $165.00 price objective on shares of Fortinet and gave the company a “neutral” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-four have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus price target of $147.94.

Check Out Our Latest Stock Analysis on FTNT

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Demand for cybersecurity solutions remains a potential tailwind as businesses adopt AI, move to the cloud, and accelerate digital transformation. One article also says the spread of agentic AI is benefiting the cybersecurity industry. Article: 3 Security Stocks to Buy Now Amid the Flourishing Industry Trend Article: Why Is Fortinet Stock Falling, and is it a Buying Opportunity?
Positive Sentiment: Zacks highlighted Fortinet as a growth stock, while a separate list of large-cap technology stocks selected by billionaire investors ranked FTNT eighth. These are supportive signals, though neither is a new company announcement. Article: Here’s Why Fortinet Is a Strong Growth Stock Article: Fortinet Crashed 26% in a Day: Did Wall Street Get It Wrong?
Neutral Sentiment: Excite Cyber achieved Fortinet Advanced Partner status, a modest ecosystem development with no stated financial impact for Fortinet. Article: Excite Cyber Gains Fortinet Advanced Partner Status
Negative Sentiment: Recent coverage describes a sharp selloff in Fortinet and other cybersecurity stocks amid broader technology weakness and questions about how much investors will pay for growth as AI infrastructure costs rise. Article: Fortinet Crashed 26% in a Day: Did Wall Street Get It Wrong? Article: Cybersecurity Stocks Slide
Negative Sentiment: Analyst actions add pressure: Susquehanna reduced its price target, Wedbush maintained a Hold rating, and a report cited a 10.56% decline in Fortinet’s consensus target. Article: Fortinet Stock Gets Price Target Reduction from Susquehanna Article: Wedbush Reaffirms Its Hold Rating

Hedge Funds Weigh In On Fortinet

Large investors have recently made changes to their positions in the business. Puff Wealth Management LLC grew its position in Fortinet by 3.4% in the third quarter. Puff Wealth Management LLC now owns 1,660 shares of the software maker’s stock worth $297,000 after buying an additional 54 shares during the last quarter. Columbus Macro LLC grew its holdings in shares of Fortinet by 1.9% in the 3rd quarter. Columbus Macro LLC now owns 2,981 shares of the software maker’s stock worth $533,000 after acquiring an additional 55 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Fortinet by 0.3% in the 3rd quarter. Signaturefd LLC now owns 19,581 shares of the software maker’s stock worth $3,500,000 after acquiring an additional 59 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC grew its holdings in shares of Fortinet by 1.9% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,525 shares of the software maker’s stock worth $630,000 after acquiring an additional 66 shares during the last quarter. Finally, Kintegral Advisory LLC raised its position in shares of Fortinet by 0.6% during the third quarter. Kintegral Advisory LLC now owns 12,648 shares of the software maker’s stock worth $2,261,000 after purchasing an additional 71 shares during the period. Institutional investors own 83.71% of the company’s stock.

Fortinet Company Profile

(Get Free Report)

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.