Strs Ohio Has $12.61 Million Stock Holdings in Fortinet, Inc. $FTNT

Strs Ohio decreased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 9.5% in the third quarter, Holdings Channel.com reports. The firm owned 149,995 shares of the software maker’s stock after selling 15,679 shares during the period. Strs Ohio’s holdings in Fortinet were worth $12,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares in the last quarter. Bison Wealth LLC bought a new stake in Fortinet in the fourth quarter worth approximately $585,000. TD Private Client Wealth LLC acquired a new position in shares of Fortinet during the 2nd quarter worth $504,000. Beaumont Financial Advisors LLC bought a new position in shares of Fortinet during the 2nd quarter valued at $224,000. Finally, ORG Partners LLC lifted its stake in shares of Fortinet by 1,405.2% in the 2nd quarter. ORG Partners LLC now owns 5,238 shares of the software maker’s stock valued at $538,000 after purchasing an additional 4,890 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded Fortinet to Buy and set a $100 price target, arguing AI risks are overstated and forecasting stronger billings into 2026 — this is the principal catalyst for today’s rally. Fortinet Is Top S&P 500 Stock After Upgrade. Don’t Worry About ‘AI Eating Software.
• Positive Sentiment: TD Cowen’s upgrade was backed by “solid checks” from the field, per reports, giving the call more credibility and suggesting demand/billings data corroborate the upbeat view. Fortinet in focus as TD Cowen upgrades on back of ‘solid checks’
• Positive Sentiment: Multiple outlets note a five?star analyst upgrade to Buy (TipRanks/Benzinga coverage), lifting investor attention and trading volume — momentum and analyst conviction are reinforcing the move. Fortinet Stock (FTNT) Surges after Five-Star Analyst Upgrades to Buy Rating
• Positive Sentiment: Coverage summaries and quick news pieces (e.g., Benzinga/Yahoo) are amplifying the upgrade narrative, attracting short-term traders and contributing to above-average volume. Tesla removes Autopilot software, Fortinet upgraded to Buy
• Neutral Sentiment: Fortinet is appearing among intraday Nasdaq gainers and tech/AI rotation lists — helpful context for momentum but not a fundamental change. Live Nasdaq Composite: Market Mettle Tested in Whipsaw Week
• Neutral Sentiment: Industry/ETF commentary highlights Fortinet’s role in cloud and security ETFs — may attract passive inflows over time but is not an immediate catalyst. Fortinet (NASDAQ:FTNT) Nasdaq Composite ETF Cloud Security Reach

Fortinet Stock Performance

FTNT opened at $81.64 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $80.14 and its two-hundred day moving average price is $84.15. The firm has a market capitalization of $60.71 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 2.84 and a beta of 1.07. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.82.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.Fortinet’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. On average, equities analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 158,485 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the sale, the chief executive officer owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 18.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on FTNT. Rosenblatt Securities reissued a “neutral” rating and set a $85.00 target price on shares of Fortinet in a research report on Thursday, November 6th. Citigroup reissued a “neutral” rating and set a $85.00 price objective (up previously from $83.00) on shares of Fortinet in a report on Monday, January 12th. Jefferies Financial Group cut their price objective on Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Robert W. Baird decreased their target price on Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Fortinet in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $90.04.

Fortinet Company 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.