Rhumbline Advisers Has $102.85 Million Stock Position in Fortinet, Inc. $FTNT

Rhumbline Advisers boosted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,223,244 shares of the software maker’s stock after acquiring an additional 28,165 shares during the quarter. Rhumbline Advisers’ holdings in Fortinet were worth $102,850,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FTNT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Fortinet by 6.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock worth $137,800,000 after purchasing an additional 82,937 shares during the period. Allstate Corp acquired a new position in shares of Fortinet during the 3rd quarter worth about $2,034,000. Asset Management One Co. Ltd. grew its position in shares of Fortinet by 4.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock worth $33,824,000 after buying an additional 17,892 shares during the period. Warther Private Wealth LLC increased its stake in shares of Fortinet by 39.7% in the 2nd quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock valued at $19,258,000 after acquiring an additional 51,750 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Fortinet by 465.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock valued at $64,255,000 after acquiring an additional 622,809 shares during the period. 83.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FTNT has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research note on Monday, November 24th. Mizuho upped their price objective on shares of Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research report on Friday, February 6th. Robert W. Baird set a $90.00 target price on Fortinet in a report on Friday, February 6th. Barclays set a $88.00 price target on Fortinet in a report on Tuesday, February 3rd. Finally, Scotiabank cut Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective on the stock. in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.07.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 175,737 shares of the business’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 directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael Xie sold 343,106 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 value of $27,935,690.52. Following the completion of the transaction, the vice president 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 17.20% of the company’s stock.

Fortinet Stock Up 2.7%

FTNT stock opened at $87.82 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The stock has a market capitalization of $65.31 billion, a P/E ratio of 36.14, a P/E/G ratio of 2.95 and a beta of 1.06. The business has a 50-day moving average of $80.60 and a 200-day moving average of $82.34. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $0.74 EPS. Fortinet’s revenue for the quarter was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, sell-side analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

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.