Fortinet, Inc. $FTNT Shares Acquired by Employees Retirement System of Texas

Employees Retirement System of Texas grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 61.7% in the fourth quarter, HoldingsChannel reports. The fund owned 93,293 shares of the software maker’s stock after buying an additional 35,600 shares during the period. Employees Retirement System of Texas’ holdings in Fortinet were worth $7,408,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after buying an additional 2,894,355 shares during the period. Van ECK Associates Corp raised its position in Fortinet by 62.1% during the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after buying an additional 2,132,109 shares during the period. First Trust Advisors LP grew its stake in Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares in the last quarter. Invesco Ltd. grew its stake in Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Fortinet by 23.1% in the third quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock valued at $430,082,000 after purchasing an additional 969,899 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Up 0.0%

NASDAQ:FTNT opened at $133.96 on Wednesday. The stock’s fifty day simple moving average is $94.07 and its 200-day simple moving average is $85.58. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $98.15 billion, a P/E ratio of 51.72, a P/E/G ratio of 3.68 and a beta of 0.92. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $134.91.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 160.08% and a net margin of 27.49%.The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company 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. Equities research analysts expect that Fortinet, Inc. will post 2.77 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on FTNT shares. Piper Sandler upped their price target on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $107.00 price target (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. Robert W. Baird set a $115.00 target price on Fortinet in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Finally, Truist Financial set a $120.00 price target on Fortinet and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $102.69.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents 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 Fortinet stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the sale, the vice president directly owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This represents a 0.02% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 153,848 shares of company stock valued at $19,446,115 in the last 90 days. 17.60% of the stock is currently owned by company insiders.

Fortinet 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.