National Pension Service Has $186.93 Million Stake in Fortinet, Inc. $FTNT

National Pension Service boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,223,198 shares of the software maker’s stock after acquiring an additional 50,861 shares during the quarter. National Pension Service owned 0.29% of Fortinet worth $186,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management acquired a new position in Fortinet in the 2nd quarter worth about $25,000. Financial Consulate Inc. bought a new stake in shares of Fortinet during the third quarter worth about $25,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Fortinet in the third quarter valued at approximately $25,000. SJS Investment Consulting Inc. increased its stake in shares of Fortinet by 1,556.5% in the third quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock valued at $32,000 after buying an additional 358 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in Fortinet by 41.4% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock valued at $38,000 after buying an additional 104 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt upgraded FTNT to a Buy and raised its price target to $100 (from $85), a bullish endorsement that can support share gains. Read More.
• Positive Sentiment: TD Cowen upgraded FTNT to Buy (PT $100) and called the valuation reasonable after channel checks showed stability — an influential bank upgrade that likely boosted buying interest. Read More.
• Positive Sentiment: Fortinet announced a FortiCNAPP upgrade emphasizing tighter cloud security integration and investor-focused messaging on cloud risk management — product progress that supports the company’s platform story and competitive moat. Read More.
• Positive Sentiment: Sector lift: coverage of Fortinet’s upgrades has helped buoy cybersecurity peers (e.g., CrowdStrike), indicating the upgrade-driven sentiment is spilling across the group and can provide additional support to FTNT. Read More.
• Neutral Sentiment: Elevated investor interest/search activity around FTNT signals heightened attention and liquidity, which can amplify moves in either direction depending on news flow. Read More.
• Neutral Sentiment: Multiple pieces profile Fortinet’s unified cloud-risk platform and longer-term moat — constructive for medium-term growth expectations but not an immediate earnings catalyst. Read More.
• Negative Sentiment: Zacks preview warns Fortinet lacks the setup for a likely earnings beat next week — this raises downside risk into the print and helps explain intraday pullbacks despite the bullish headlines. Read More.
• Neutral Sentiment: Scheduled earnings coverage and media previews mean volatility is likely until results/guidance are released — traders should watch the upcoming report for guidance vs. consensus. Read More.

Fortinet Stock Performance

Shares of FTNT stock opened at $81.26 on Friday. 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 firm has a fifty day simple moving average of $80.36 and a two-hundred day simple moving average of $83.58. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The firm has a market capitalization of $60.43 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 2.84 and a beta of 1.07.

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

Insiders Place Their Bets

In related news, VP Michael Xie sold 3,546 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the sale, the vice president owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ken Xie sold 158,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total value of $13,710,537.35. Following the completion of the sale, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $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. Insiders own 17.20% of the company’s stock.

Analyst Ratings Changes

FTNT has been the topic of several analyst reports. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Truist Financial set a $88.00 price target on Fortinet in a research report on Tuesday, January 20th. Citigroup restated a “neutral” rating and set a $85.00 price objective (up from $83.00) on shares of Fortinet in a research report on Monday, January 12th. Piper Sandler reiterated a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Monday, January 5th. Finally, Hsbc Global Res downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.48.

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.