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

Legal & General Group Plc grew its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,115,450 shares of the software maker’s stock after acquiring an additional 273,428 shares during the quarter. Legal & General Group Plc’s holdings in Fortinet were worth $514,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FTNT. LSV Asset Management acquired a new position in Fortinet in the second quarter valued at $25,000. Financial Consulate Inc. purchased a new stake in Fortinet during the 3rd quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet during the 3rd quarter worth approximately $25,000. Pinnacle Holdings LLC purchased a new position in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Fortinet in the third quarter valued at approximately $25,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $84.20 on Wednesday. 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, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33. The company’s fifty day moving average price is $80.37 and its two-hundred day moving average price is $81.58. The firm has a market capitalization of $62.30 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.90 and a beta of 1.05.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Scotiabank downgraded Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 target price for the company. in a report on Monday, February 2nd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $83.00 target price on shares of Fortinet in a report on Friday, February 6th. Finally, Barclays set a $88.00 price target on Fortinet in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and an average target price of $88.62.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 343,106 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 $27,935,690.52. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the 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 owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This represents a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 18.00% of the company’s stock.

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.