Fortinet, Inc. $FTNT Shares Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB increased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 8.8% in the fourth quarter, Holdings Channel reports. The firm owned 286,259 shares of the software maker’s stock after acquiring an additional 23,219 shares during the period. E. Ohman J or Asset Management AB’s holdings in Fortinet were worth $22,732,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. lifted its stake in shares of Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. State Street Corp grew its stake in shares of Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after buying an additional 477,397 shares in the last quarter. Norges Bank purchased a new stake in shares of Fortinet during the 2nd quarter valued at about $1,640,900,000. Invesco Ltd. lifted its position in Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after acquiring an additional 1,568,337 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after acquiring an additional 1,790,033 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Up 1.7%

FTNT stock opened at $82.77 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. The firm has a 50 day simple moving average of $81.18 and a 200-day simple moving average of $81.93. The company has a market capitalization of $61.24 billion, a P/E ratio of 34.06, a PEG ratio of 2.81 and a beta of 1.05. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $109.33.

Fortinet (NASDAQ:FTNT) last posted 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 firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior 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, equities research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FTNT shares. 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. Jefferies Financial Group set a $90.00 target price on shares of Fortinet in a research report on Friday, February 6th. Truist Financial set a $88.00 price target on shares of Fortinet in a report on Tuesday, January 20th. TD Cowen raised shares of 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, January 23rd. Finally, Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.62.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 175,737 shares of the stock in a transaction dated Monday, February 2nd. The shares were 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 of the company’s stock, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated 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 completion of the transaction, the vice president owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 18.00% of the company’s stock.

Fortinet Company 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.