16,913 Shares in Fortinet, Inc. $FTNT Acquired by Greater Midwest Financial Group LLC

Greater Midwest Financial Group LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,913 shares of the software maker’s stock, valued at approximately $1,422,000. Fortinet accounts for about 0.9% of Greater Midwest Financial Group LLC’s portfolio, making the stock its 29th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Fortinet by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after buying an additional 1,024,516 shares in the last quarter. State Street Corp lifted its stake in shares of Fortinet by 3.0% in the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock worth $3,085,244,000 after acquiring an additional 862,468 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Fortinet by 5.2% in the second 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. Norges Bank acquired a new position in shares of Fortinet during the second quarter valued at approximately $1,640,900,000. Finally, Invesco Ltd. raised its holdings in Fortinet by 7.9% during the second quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock worth $977,718,000 after purchasing an additional 677,654 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays set a $88.00 price target on Fortinet in a research note on Tuesday. Robert W. Baird set a $90.00 target price on Fortinet in a report on Friday. HSBC downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $83.00 price objective on shares of Fortinet in a research note on Friday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus target price of $89.46.

Fortinet Stock Performance

Shares of FTNT opened at $82.76 on Friday. The company has a 50-day moving average of $80.37 and a two-hundred day moving average of $82.88. The stock has a market cap of $61.54 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.73 and a beta of 1.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.82.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 117.39%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’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, equities research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 beat and raised full?year guidance — Fortinet reported Q4 revenue of $1.91B and EPS of $0.81 (above estimates) and issued FY?2026 EPS guidance ahead of consensus; management highlighted strong enterprise demand. Read More.
• Positive Sentiment: Billings, product growth and Unified SASE strength — Billings rose ~18% (Unified SASE billings up ~40%) and product revenue grew double digits, underpinning revenue momentum. Read More.
• Positive Sentiment: Buyback expanded — company increased its buyback program by $1B to roughly $10.25B through Feb 2027, a shareholder?friendly move that supports the stock. Read More.
• Positive Sentiment: Some bullish analyst action — Rosenblatt raised its target to $105 (buy), and Wedbush reaffirmed an outperform with a $90 target, giving upside voices amid mixed comments. Read More. • Read More.
• Neutral Sentiment: Primary disclosures and management commentary — full earnings call transcript and presentation are available for deeper read on cloud/SASE strategy and guidance detail. Read More. • Read More.
• Negative Sentiment: Analyst caution still present — JPMorgan and Mizuho raised price targets slightly but kept underweight/outperform/underperform stances that imply limited near?term upside from some shops; Jefferies also remains cautious on 2026. Read More. • Read More. • Read More.
• Negative Sentiment: Insider selling — filings show large sales by the CEO and a VP, which may raise short?term governance/flow concerns for some investors. Read More. • Read More.
• Neutral Sentiment: Street positioning mixed — some firms (Robert W. Baird, others) keep holds or reiterate neutral stances citing product strength offset by services slowdown or limited near?term upside. Read More.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 343,106 shares of the company’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 $27,935,690.52. Following the completion of the transaction, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. This represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.20% 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.