Fortinet, Inc. $FTNT Shares Purchased by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. grew its position in Fortinet, Inc. (NASDAQ:FTNT) by 3.2% during the third quarter, Holdings Channel.com reports. The firm owned 333,554 shares of the software maker’s stock after acquiring an additional 10,289 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in Fortinet were worth $28,045,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allstate Corp purchased a new position in shares of Fortinet in the 3rd quarter valued at $2,034,000. Asset Management One Co. Ltd. increased its position in Fortinet by 4.7% during the third quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock worth $33,824,000 after buying an additional 17,892 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in 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 buying an additional 622,809 shares during the period. Machina Capital S.A.S. purchased a new stake in Fortinet in the third quarter valued at approximately $1,177,000. Finally, Penserra Capital Management LLC lifted its stake in Fortinet by 22.3% in the third quarter. Penserra Capital Management LLC now owns 1,356,122 shares of the software maker’s stock valued at $114,021,000 after buying an additional 246,844 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FTNT. Barclays set a $88.00 target price on shares of Fortinet in a research report on Tuesday, February 3rd. UBS Group reiterated a “neutral” rating and set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Citigroup reissued a “neutral” rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a research report on Monday, February 9th. Rosenblatt Securities upped their target price on shares of Fortinet from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. 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 four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average price target of $88.62.

Fortinet Stock Performance

Shares of FTNT stock opened at $83.81 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $109.33. The company has a market cap of $62.01 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. The stock has a 50 day simple moving average of $80.29 and a 200-day simple moving average of $81.55.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. 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 analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of the business’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 $14,308,506.54. Following the sale, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Xie sold 343,106 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is currently owned by corporate insiders.

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.