Fortinet, Inc. $FTNT Shares Purchased by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co boosted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 8.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,400 shares of the software maker’s stock after buying an additional 9,200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Fortinet were worth $9,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Fortinet by 6.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock valued at $137,800,000 after purchasing an additional 82,937 shares in the last quarter. Allstate Corp acquired a new stake in Fortinet during the 3rd quarter worth approximately $2,034,000. Asset Management One Co. Ltd. boosted its position in Fortinet by 4.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock valued at $33,824,000 after buying an additional 17,892 shares during the period. Warther Private Wealth LLC grew its stake in shares of Fortinet by 39.7% in the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock worth $19,258,000 after acquiring an additional 51,750 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Fortinet by 465.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock worth $64,255,000 after acquiring an additional 622,809 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTNT has been the topic of several recent research reports. Robert W. Baird set a $90.00 price target on Fortinet in a report on Friday, February 6th. Sanford C. Bernstein restated a “market perform” rating and set a $83.00 target price on shares of Fortinet in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. Morgan Stanley reiterated an “underweight” rating and set a $70.00 price target (up previously from $66.00) on shares of Fortinet in a report on Thursday, December 18th. Finally, BMO Capital Markets increased their price objective on shares of Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.07.

Insider Activity

In related news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value 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. This trade represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 17.20% of the company’s stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $85.56 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The firm’s 50 day moving average is $80.56 and its two-hundred day moving average is $82.22. The firm has a market capitalization of $63.63 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.91 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Research analysts forecast that Fortinet, Inc. will post 2.09 EPS 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.