Fortinet, Inc. $FTNT Shares Bought by Legal & General Group Plc

Legal & General Group Plc boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 12.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,905,567 shares of the software maker’s stock after acquiring an additional 790,117 shares during the period. Legal & General Group Plc’s holdings in Fortinet were worth $548,371,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PDS Planning Inc lifted its holdings in Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after purchasing an additional 123 shares in the last quarter. Delta Investment Management LLC increased its stake in shares of Fortinet by 2.4% during the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after purchasing an additional 125 shares in the last quarter. Fiduciary Trust Co raised its position in shares of Fortinet by 1.2% during the 3rd quarter. Fiduciary Trust Co now owns 10,823 shares of the software maker’s stock worth $910,000 after purchasing an additional 130 shares during the last quarter. Optimist Retirement Group LLC raised its position in shares of Fortinet by 2.9% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,888 shares of the software maker’s stock worth $411,000 after purchasing an additional 140 shares during the last quarter. Finally, L2 Asset Management LLC lifted its stake in Fortinet by 5.1% in the 3rd quarter. L2 Asset Management LLC now owns 2,992 shares of the software maker’s stock valued at $252,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

FTNT opened at $133.93 on Tuesday. The firm has a market capitalization of $98.12 billion, a PE ratio of 51.71, a PEG ratio of 3.68 and a beta of 0.92. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $134.19. The firm’s 50-day moving average price is $93.06 and its 200 day moving average price is $85.25. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, sell-side analysts expect that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Stifel Nicolaus set a $85.00 price objective on Fortinet in a research note on Wednesday, March 11th. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. raised their target price on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Finally, Jefferies Financial Group set a $90.00 price objective on Fortinet in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.83.

Insider Buying and Selling

In other Fortinet news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael Xie sold 2,478 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares in the company, valued at $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 153,848 shares of company stock worth $19,446,115. 17.60% of the stock is owned by insiders.

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.