Mn Services Vermogensbeheer B.V. Acquires 9,424 Shares of Fortinet, Inc. $FTNT

Mn Services Vermogensbeheer B.V. raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 255,714 shares of the software maker’s stock after acquiring an additional 9,424 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Fortinet were worth $20,306,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Fortinet by 4.0% during the third 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 in the last quarter. State Street Corp increased its position in shares of Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Invesco Ltd. raised 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. First Trust Advisors LP raised 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. Finally, Nordea Investment Management AB lifted its position in Fortinet by 2.9% during the third quarter. Nordea Investment Management AB now owns 6,922,031 shares of the software maker’s stock valued at $586,781,000 after purchasing an additional 195,896 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of research reports. Evercore set a $80.00 price target on shares of Fortinet in a research note on Friday, February 6th. Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Barclays set a $88.00 target price on shares of Fortinet in a research report on Tuesday, February 3rd. Robert W. Baird set a $90.00 target price on Fortinet in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a research report on Friday. Five research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.84.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value 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 $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 175,737 shares of the company’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 sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 18.00% of the stock is owned by company insiders.

Fortinet Stock Up 3.4%

Shares of NASDAQ FTNT opened at $81.72 on Wednesday. The stock has a market capitalization of $60.47 billion, a P/E ratio of 33.63, a PEG ratio of 2.73 and a beta of 1.05. Fortinet, Inc. has a one year low of $70.12 and a one year high of $109.33. The firm’s 50 day simple moving average is $81.60 and its two-hundred day simple moving average is $81.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share 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 firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business posted $0.74 EPS. 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, analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal 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.