Fortinet, Inc. $FTNT Shares Purchased by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 7.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 215,077 shares of the software maker’s stock after purchasing an additional 15,221 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Fortinet were worth $18,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Fortinet during the second quarter worth $1,640,900,000. Vanguard Group Inc. lifted its stake in Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares in the last quarter. State Street Corp boosted its holdings in Fortinet by 3.0% during the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after acquiring an additional 862,468 shares during the period. Geode Capital Management LLC grew its position in Fortinet by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after acquiring an additional 828,569 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Fortinet by 213.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,158,646 shares of the software maker’s stock worth $122,492,000 after purchasing an additional 788,436 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FTNT shares. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Scotiabank cut shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price target for the company. in a research report on Monday, February 2nd. BMO Capital Markets upped their price objective on Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a research report on Monday, February 9th. Citigroup reiterated a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. Finally, Freedom Capital cut Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus target price of $89.42.

Insider Buying and Selling

In related news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the business’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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is currently owned by company insiders.

Fortinet Stock Down 2.0%

Shares of NASDAQ FTNT opened at $80.00 on Monday. The business has a 50-day moving average of $80.48 and a two-hundred day moving average of $81.37. The company has a market capitalization of $59.49 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.77 and a beta of 1.06. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.57. 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 (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. The business 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%.The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last 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. On average, analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

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.