MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in Fortinet, Inc. $FTNT

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,636,607 shares of the software maker’s stock after purchasing an additional 159,942 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Fortinet were worth $137,629,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FTNT. Allstate Corp acquired a new position in Fortinet in the third quarter valued at $2,034,000. Asset Management One Co. Ltd. increased its stake in Fortinet by 4.7% during the third quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock worth $33,824,000 after acquiring an additional 17,892 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings 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 worth $64,255,000 after purchasing an additional 622,809 shares during the period. Machina Capital S.A.S. purchased a new position in shares of Fortinet in the 3rd quarter worth about $1,177,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Fortinet by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock valued at $138,874,000 after purchasing an additional 90,284 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

FTNT stock opened at $84.49 on Tuesday. The firm has a market cap of $62.52 billion, a P/E ratio of 34.77, a price-to-earnings-growth ratio of 2.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $109.33. The stock has a 50-day simple moving average of $80.80 and a 200-day simple moving average of $81.75.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. TD Cowen upgraded Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, January 23rd. UBS Group restated a “neutral” rating and issued a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fortinet in a research note on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $88.62.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. This trade represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. 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.