Railway Pension Investments Ltd Takes Position in Fortinet, Inc. $FTNT

Railway Pension Investments Ltd bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, Holdings Channel.com reports. The firm bought 309,800 shares of the software maker’s stock, valued at approximately $47,591,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTNT. Brighton Jones LLC raised its stake in Fortinet by 2.2% in the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares during the period. Bison Wealth LLC bought a new stake in Fortinet in the 4th quarter valued at $585,000. HUB Investment Partners LLC lifted its holdings in Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC bought a new position in Fortinet during the second quarter worth $1,136,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Fortinet by 27.4% during the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after buying an additional 31,202 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 3.0%

NASDAQ FTNT opened at $170.93 on Tuesday. The company has a market cap of $125.41 billion, a price-to-earnings ratio of 60.19, a price-to-earnings-growth ratio of 3.15 and a beta of 1.07. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average is $158.19 and its 200 day moving average is $121.25. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $173.89.

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

Insider Activity at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Fortinet stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 90 days, insiders sold 168,510 shares of company stock valued at $27,346,371. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $190.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Weiss Ratings lowered Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 20th. TD Cowen reaffirmed a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Finally, Compass Point set a $100.00 price objective on shares of Fortinet in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $150.91.

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.