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Sunnyvale Today
By the People, for the People
LGT Group Foundation Decreases Stake in Fortinet, Inc. $FTNT
Institutional investor sold over 32,000 shares of cybersecurity firm in Q3
Published on Mar. 9, 2026
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LGT Group Foundation, an institutional investor, reduced its stake in Fortinet, Inc. (NASDAQ:FTNT) by 7.3% in the third quarter, according to a recent SEC filing. The foundation now owns approximately 418,889 shares of the software maker's stock, valued at around $35.7 million.
Why it matters
Fortinet is a leading cybersecurity company, and changes in major institutional holdings can signal shifts in market sentiment around the stock. This decrease in LGT Group Foundation's position may indicate broader concerns about Fortinet's performance or the cybersecurity sector as a whole.
The details
According to the SEC filing, LGT Group Foundation sold 32,816 shares of Fortinet stock during the third quarter. The foundation now owns around 0.06% of the company's outstanding shares. Fortinet is a multinational cybersecurity firm that develops and sells integrated security solutions for enterprise, service provider, and government customers worldwide.
- LGT Group Foundation reduced its Fortinet stake in the third quarter of 2026.
The players
LGT Group Foundation
An institutional investor that owns a stake in Fortinet, Inc.
Fortinet, Inc.
A multinational cybersecurity company that develops and sells integrated security solutions.
The takeaway
This decrease in LGT Group Foundation's Fortinet holdings could signal broader concerns about the cybersecurity sector, though the reasons behind the sale are not entirely clear. Investors will likely continue to monitor Fortinet's performance and any changes in major institutional ownership.
