Saudi Central Bank Acquires New Position in Fortinet, Inc. $FTNT

Saudi Central Bank bought a new position in Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 371,486 shares of the software maker’s stock, valued at approximately $31,235,000. Fortinet comprises approximately 1.2% of Saudi Central Bank’s holdings, making the stock its 25th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of FTNT. Norges Bank purchased a new stake in shares of Fortinet in the 2nd quarter valued at $1,640,900,000. Vanguard Group Inc. raised its position 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 lifted its stake in Fortinet by 3.0% in the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock worth $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 second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after buying an additional 828,569 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake 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 buying an additional 788,436 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 175,737 shares of Fortinet 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 transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael Xie sold 343,106 shares of the company’s 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 completion of the sale, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.00% of the company’s stock.

Fortinet Stock Up 2.4%

FTNT stock opened at $81.10 on Wednesday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $109.33. The company has a market capitalization of $60.01 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05. The business’s 50 day moving average price is $80.10 and its two-hundred day moving average price is $81.42. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17.

Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. 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, analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of analyst reports. Jefferies Financial Group set a $90.00 price objective on Fortinet in a research note on Friday, February 6th. Barclays set a $88.00 price target on shares of Fortinet in a research report on Tuesday, February 3rd. Scotiabank lowered shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price target on the stock. in a report on Monday, February 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a report on Monday, November 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $83.00 target price on shares of Fortinet in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $88.62.

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.