Fortinet, Inc. $FTNT Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,251,962 shares of the software maker’s stock after buying an additional 93,316 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fortinet were worth $105,265,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FTNT. Brighton Jones LLC raised its stake in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after purchasing an additional 221 shares during the last quarter. Bison Wealth LLC acquired a new stake in shares of Fortinet during the 4th quarter worth about $585,000. Assenagon Asset Management S.A. grew its holdings in shares of Fortinet by 0.6% during the second quarter. Assenagon Asset Management S.A. now owns 17,841 shares of the software maker’s stock worth $1,886,000 after buying an additional 102 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Fortinet by 2.8% in the second quarter. Fifth Third Bancorp now owns 23,492 shares of the software maker’s stock valued at $2,484,000 after buying an additional 645 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in shares of Fortinet by 22.6% during the second quarter. Mather Group LLC. now owns 5,305 shares of the software maker’s stock valued at $561,000 after buying an additional 978 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded Fortinet to Buy and set a $100 price target, arguing AI risks are overstated and forecasting stronger billings into 2026 — this is the principal catalyst for today’s rally. Fortinet Is Top S&P 500 Stock After Upgrade. Don’t Worry About ‘AI Eating Software.
• Positive Sentiment: TD Cowen’s upgrade was backed by “solid checks” from the field, per reports, giving the call more credibility and suggesting demand/billings data corroborate the upbeat view. Fortinet in focus as TD Cowen upgrades on back of ‘solid checks’
• Positive Sentiment: Multiple outlets note a five?star analyst upgrade to Buy (TipRanks/Benzinga coverage), lifting investor attention and trading volume — momentum and analyst conviction are reinforcing the move. Fortinet Stock (FTNT) Surges after Five-Star Analyst Upgrades to Buy Rating
• Positive Sentiment: Coverage summaries and quick news pieces (e.g., Benzinga/Yahoo) are amplifying the upgrade narrative, attracting short-term traders and contributing to above-average volume. Tesla removes Autopilot software, Fortinet upgraded to Buy
• Neutral Sentiment: Fortinet is appearing among intraday Nasdaq gainers and tech/AI rotation lists — helpful context for momentum but not a fundamental change. Live Nasdaq Composite: Market Mettle Tested in Whipsaw Week
• Neutral Sentiment: Industry/ETF commentary highlights Fortinet’s role in cloud and security ETFs — may attract passive inflows over time but is not an immediate catalyst. Fortinet (NASDAQ:FTNT) Nasdaq Composite ETF Cloud Security Reach

Wall Street Analyst Weigh In

Several research firms have commented on FTNT. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Fortinet in a research note on Thursday, November 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $70.00 price objective (up previously from $66.00) on shares of Fortinet in a research report on Thursday, December 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research note on Monday, November 24th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and a consensus price target of $90.04.

Insider Buying and Selling

In related news, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the sale, the vice president directly owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.20% of the company’s stock.

Fortinet Price Performance

FTNT stock opened at $81.64 on Friday. The company has a market cap of $60.71 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 2.71 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $80.14 and a two-hundred day moving average price of $84.48. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.82.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company posted $0.63 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, research analysts predict that Fortinet, Inc. will post 2.09 EPS for the current 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.