Y.D. More Investments Ltd Buys 8,663 Shares of Fortinet, Inc. $FTNT

Y.D. More Investments Ltd lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 14.9% during the third quarter, Holdings Channel reports. The firm owned 66,610 shares of the software maker’s stock after acquiring an additional 8,663 shares during the period. Y.D. More Investments Ltd’s holdings in Fortinet were worth $5,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Fortinet in the 2nd quarter valued at about $1,640,900,000. Vanguard Group Inc. increased its stake in Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp raised its position in Fortinet by 3.0% during the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after purchasing an additional 862,468 shares during the last quarter. Geode Capital Management LLC boosted its position in Fortinet by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after acquiring an additional 828,569 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Fortinet by 213.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,158,646 shares of the software maker’s stock valued at $122,492,000 after purchasing an additional 788,436 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were 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 approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Xie sold 343,106 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, February 6th. BMO Capital Markets lifted their price target on Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a research report on Monday, February 9th. Jefferies Financial Group set a $90.00 price objective on Fortinet in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $90.00 target price (up previously from $85.00) 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-three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.42.

Fortinet Trading Up 0.9%

FTNT traded up $0.70 on Friday, reaching $82.37. 296,420 shares of the company traded hands, compared to its average volume of 7,002,120. 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 firm has a fifty day simple moving average of $80.53 and a two-hundred day simple moving average of $81.70. The company has a market cap of $61.26 billion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 2.78 and a beta of 1.06. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.57.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $0.74 earnings per share. The business’s quarterly 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. As a group, equities research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

About Fortinet

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.