Fortinet, Inc. $FTNT Shares Bought by Tobam

Tobam increased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 110.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,616 shares of the software maker’s stock after acquiring an additional 14,494 shares during the quarter. Tobam’s holdings in Fortinet were worth $2,322,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTNT. LSV Asset Management purchased a new position in shares of Fortinet during the 2nd quarter valued at approximately $25,000. Financial Consulate Inc. acquired a new stake in Fortinet in the third quarter valued at $25,000. Steigerwald Gordon & Koch Inc. bought a new position in Fortinet during the 3rd quarter valued at $25,000. Quaker Wealth Management LLC boosted its stake in Fortinet by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after acquiring an additional 726 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Fortinet during the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FTNT shares. Truist Financial set a $88.00 price objective on Fortinet in a report on Tuesday, January 20th. Evercore ISI set a $80.00 price target on Fortinet in a report on Friday, February 6th. Scotiabank lowered Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price target on the stock. in a research report on Monday, February 2nd. Royal Bank Of Canada restated a “sector perform” rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Friday, February 6th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $70.00 target price (up previously from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.07.

Insider Activity

In other news, VP Michael Xie sold 343,106 shares of the business’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 $27,935,690.52. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the 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 $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 18.00% of the stock is currently owned by corporate insiders.

Fortinet Price Performance

Shares of FTNT opened at $85.56 on Monday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The stock has a fifty day moving average price of $80.56 and a 200 day moving average price of $81.92. The company has a market cap of $63.63 billion, a P/E ratio of 35.21, a PEG ratio of 2.95 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last announced its quarterly 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. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. 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 forecast 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.