Man Group plc Takes Position in Fortinet, Inc. $FTNT

Man Group plc bought a new position in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, HoldingsChannel reports. The firm bought 570,084 shares of the software maker’s stock, valued at approximately $87,576,000.

Several other large investors have also recently modified their holdings of the stock. Physician Wealth Advisors Inc. boosted its stake in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 245 shares during the period. Dunhill Financial LLC purchased a new stake in shares of Fortinet in the second quarter valued at $25,000. Burk Holdings LLC purchased a new stake in shares of Fortinet in the second quarter valued at $25,000. Wexford Capital LP bought a new stake in shares of Fortinet in the 3rd quarter worth about $25,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Fortinet in the 4th quarter worth about $27,000. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FTNT shares. Scotiabank reiterated a “sector perform” rating and set a $163.00 price target on shares of Fortinet in a report on Thursday, July 30th. Compass Point set a $100.00 price objective on shares of Fortinet in a research note on Monday, May 4th. Citigroup raised their price objective on shares of Fortinet from $165.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. UBS Group restated a “neutral” rating and set a $180.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $175.00 target price (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $150.91.

Fortinet Trading Up 1.1%

NASDAQ FTNT opened at $153.66 on Wednesday. The company’s 50-day moving average price is $156.42 and its 200-day moving average price is $118.89. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock has a market cap of $112.74 billion, a PE ratio of 54.11, a PEG ratio of 2.88 and a beta of 1.07. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Equities research analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 329,142 shares of company stock worth $50,731,178. Corporate insiders own 17.60% of the company’s stock.

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.