Quantitative Investment Management LLC Boosts Stock Position in Fortinet, Inc. $FTNT

Quantitative Investment Management LLC raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 580.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,395 shares of the software maker’s stock after purchasing an additional 30,191 shares during the quarter. Quantitative Investment Management LLC’s holdings in Fortinet were worth $2,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. LSV Asset Management bought a new position in Fortinet in the 2nd quarter worth about $25,000. Financial Consulate Inc. bought a new stake in shares of Fortinet during the third quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Fortinet in the third quarter worth about $25,000. Pinnacle Holdings LLC purchased a new stake in shares of Fortinet in the third quarter worth about $25,000. Finally, Ameriflex Group Inc. bought a new position in shares of Fortinet in the third quarter valued at approximately $25,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FTNT. Citigroup reaffirmed a “neutral” rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. Stifel Nicolaus set a $85.00 price target on shares of Fortinet in a report on Wednesday. BMO Capital Markets boosted their price target on shares of Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Fortinet in a report on Thursday. Finally, Robert W. Baird set a $90.00 price objective on Fortinet in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus target price of $88.62.

Fortinet Trading Up 1.1%

Shares of FTNT opened at $84.40 on Friday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $109.33. The company has a market capitalization of $62.45 billion, a P/E ratio of 34.73, a P/E/G ratio of 2.88 and a beta of 1.05. 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 firm’s 50 day simple moving average is $80.55 and its 200 day simple moving average is $81.62.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion during 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 business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Sell-side analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In related news, VP Michael Xie sold 343,106 shares of the company’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 transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by insiders.

Fortinet Company 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.