GDS Wealth Management Purchases 17,527 Shares of Fortinet, Inc. $FTNT

GDS Wealth Management raised its position in Fortinet, Inc. (NASDAQ:FTNT) by 23.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,142 shares of the software maker’s stock after acquiring an additional 17,527 shares during the period. GDS Wealth Management’s holdings in Fortinet were worth $7,831,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Fortinet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after purchasing an additional 1,024,516 shares during the last quarter. State Street Corp raised its stake in Fortinet by 3.0% in the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after buying an additional 862,468 shares during the last quarter. Geode Capital Management LLC raised its stake in Fortinet by 5.2% in the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after buying an additional 828,569 shares during the last quarter. Norges Bank acquired a new stake in Fortinet in the second quarter worth about $1,640,900,000. Finally, Invesco Ltd. grew its stake in shares of Fortinet by 7.9% during the second quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock worth $977,718,000 after acquiring an additional 677,654 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about 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

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 3,546 shares of the firm’s stock in a transaction dated 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 $907,874,317.54. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.51, for a total value of $13,710,537.35. Following the transaction, the chief executive officer owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. This represents a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on FTNT. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Citigroup restated a “neutral” rating and set a $85.00 price target (up previously from $83.00) on shares of Fortinet in a research note on Monday, January 12th. Truist Financial set a $88.00 price target on shares of Fortinet in a report on Tuesday. Robert W. Baird dropped their price objective on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, UBS Group reduced their target price on Fortinet from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Fortinet has an average rating of “Hold” and an average price target of $90.04.

Fortinet Stock Up 5.2%

NASDAQ:FTNT opened at $81.64 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94. The company’s fifty day moving average price is $80.14 and its 200-day moving average price is $84.32. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The firm has a market capitalization of $60.71 billion, a P/E ratio of 33.60, a PEG ratio of 2.85 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share. 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, equities research analysts anticipate 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.