E. Ohman J:or Asset Management 13F: Cuts FTNT Stake by $15M

E. Ohman J:or Asset Management cut its stake in Fortinet, Inc. (NASDAQ:FTNT) by 33.2% during the third quarter, according to a Form 13F filing on October 22, 2026. The firm sold 84,980 shares of the cybersecurity provider, leaving it with 170,639 shares valued at roughly $30.5 million.

FTNT Fortinet, Inc.

$173.55 ▲ +122.84% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in E. Ohman J:or Asset Management's Fortinet Position

The fund held 255,619 shares of Fortinet prior to this filing. By shedding 84,980 shares, the institution reduced its exposure significantly, wrapping up the period with a remaining stake worth $30,503,428.

Other Institutional Activity in Fortinet

Other large funds also adjusted their positions in Fortinet around mid-year. First Trust Advisors LP grew its holdings by 690,371 shares, ending with 10,815,814 shares worth about $1.87 billion. Arrowstreet Capital, Limited Partnership lifted its holdings by 476,740 shares, holding 10,127,342 shares valued at roughly $1.75 billion. Bank Of New York Mellon Corporation reduced its stake by 4,004,982 shares, finishing with 9,327,182 shares worth approximately $1.61 billion.

Fortinet, Inc. Stock Up 0.8%

Fortinet shares closed at $173.01 on October 22, 2026, and recently traded around $172.35. The stock sits about 12.6% below its 52-week high of $197.13 while remaining well above its 200-day moving average of $125.28.

Recent Earnings

Fortinet posted trailing twelve-month revenue of $7.53 billion and basic earnings of $2.83 per share. The company reported a net profit margin of 28.2% and a return on equity of 117.4%. The next earnings update is scheduled for October 28, 2026.

Insider Buying and Selling at Fortinet, Inc.

Company insiders executed several stock sales prior to the filing date. Chief Executive Officer Kenneth Qing Xie disposed of 161,482 shares valued at approximately $26.27 million on August 3, 2026. Chief Technology Officer Michael Xie sold 3,121 shares worth about $507,574 on the same day. Christiane Margrit Ohlgart sold 387 shares at an average price of $164.59 on August 4, 2026. Later, on September 15, 2026, Chief Operating Officer John Whittle sold 56,700 shares for roughly $9.39 million.

Analysts Set New Price Targets

Wall Street analysts have updated their outlooks on the cybersecurity firm. On October 12, 2026, Barclays maintained an Equal-Weight rating and lifted its target to $210.00. TD Cowen maintained a Buy rating on October 13, 2026, raising its target to $225.00. Mizuho maintained an Underperform rating on October 15, 2026, raising its target to $160.00. Wells Fargo maintained an Underweight rating on October 15, 2026, boosting its target to $160.00. Truist Securities maintained a Buy rating on October 20, 2026, raising its target to $200.00. Overall, the stock carries a consensus hold rating from 37 analysts with a mean price target of $168.72.

About Fortinet

Headquartered in Sunnyvale, California, Fortinet provides cybersecurity software and networking convergence solutions to enterprise customers worldwide. Its integrated platforms protect corporate networks, endpoints, and cloud deployments from digital threats.

Bottom Line

Investors will look closely at Fortinet's upcoming financial results and commentary from leadership to gauge demand for enterprise security solutions.