Meiji Yasuda Asset Management Co Ltd. Sells 22,696 Shares of Fortinet, Inc. $FTNT

Meiji Yasuda Asset Management Co Ltd. reduced its position in Fortinet, Inc. (NASDAQ:FTNT) by 77.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,665 shares of the software maker’s stock after selling 22,696 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Fortinet were worth $560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Fortinet by 2.2% in the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares during the last quarter. Bison Wealth LLC purchased a new stake in shares of Fortinet during the fourth quarter valued at $585,000. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Fortinet during the second quarter valued at $263,000. AE Wealth Management LLC increased its holdings in Fortinet by 7.0% in the 2nd quarter. AE Wealth Management LLC now owns 5,731 shares of the software maker’s stock worth $606,000 after buying an additional 373 shares in the last quarter. Finally, Prospera Financial Services Inc raised its position in Fortinet by 37.5% in the 2nd quarter. Prospera Financial Services Inc now owns 6,419 shares of the software maker’s stock worth $679,000 after buying an additional 1,751 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of recent analyst reports. Barclays set a $88.00 price target on shares of Fortinet in a report on Tuesday, February 3rd. Wells Fargo & Company assumed coverage on shares of Fortinet in a research report on Tuesday, March 3rd. They issued an “underweight” rating and a $64.00 target price for the company. JPMorgan Chase & Co. increased their price target on Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, February 6th. BMO Capital Markets lifted their price objective on Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a report on Monday, February 9th. Finally, Jefferies Financial Group 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 given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $88.62.

Insiders Place Their Bets

In related news, 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 175,737 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 value of $14,308,506.54. Following the sale, the chief executive officer directly 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. 18.00% of the stock is currently owned by company insiders.

Fortinet Stock Up 0.2%

Shares of FTNT stock opened at $83.81 on Tuesday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33. The stock has a market cap of $62.01 billion, a P/E ratio of 34.49, a P/E/G ratio of 2.89 and a beta of 1.05. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $80.29 and a two-hundred day simple moving average of $81.55.

Fortinet (NASDAQ:FTNT) last issued its quarterly 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. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $0.74 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. 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 expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

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.