Varma Mutual Pension Insurance Co Raises Stake in Fortinet, Inc. $FTNT

Varma Mutual Pension Insurance Co raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 8.7% during the third quarter, HoldingsChannel reports. The firm owned 114,400 shares of the software maker’s stock after buying an additional 9,200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Fortinet were worth $9,619,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. LSV Asset Management acquired a new position in Fortinet in the 2nd quarter valued at about $25,000. Financial Consulate Inc. purchased a new position in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Fortinet in the third quarter valued at approximately $25,000. Quaker Wealth Management LLC raised its stake in shares of Fortinet by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after purchasing an additional 726 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Fortinet during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on FTNT shares. UBS Group restated a “neutral” rating and set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Piper Sandler reissued a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. BMO Capital Markets lifted their price target on Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a research note on Monday, February 9th. Citigroup reiterated a “neutral” rating and issued a $90.00 price objective (up previously from $85.00) on shares of Fortinet in a research report on Monday. Finally, Evercore set a $80.00 target price on shares of Fortinet in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average price target of $89.07.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 343,106 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the sale, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by corporate insiders.

Fortinet Trading Up 1.5%

NASDAQ:FTNT opened at $85.56 on Friday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $80.56 and a 200-day simple moving average of $82.22. The company has a market capitalization of $63.63 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.91 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, equities research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

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.