ProShare Advisors LLC Raises Position in Fortinet, Inc. $FTNT

ProShare Advisors LLC raised its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 64.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,974,442 shares of the software maker’s stock after buying an additional 776,705 shares during the period. ProShare Advisors LLC owned about 0.26% of Fortinet worth $166,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FTNT. Balboa Wealth Partners lifted its stake in shares of Fortinet by 4.3% in the 2nd quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock valued at $246,000 after acquiring an additional 96 shares during the last quarter. Board of the Pension Protection Fund increased its stake in Fortinet by 4.5% in the 2nd quarter. Board of the Pension Protection Fund now owns 2,300 shares of the software maker’s stock worth $243,000 after purchasing an additional 100 shares during the period. GPS Wealth Strategies Group LLC increased its stake in Fortinet by 3.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,391 shares of the software maker’s stock worth $358,000 after purchasing an additional 108 shares during the period. Huntington National Bank lifted its position in Fortinet by 0.7% in the second quarter. Huntington National Bank now owns 16,596 shares of the software maker’s stock valued at $1,755,000 after purchasing an additional 112 shares during the last quarter. Finally, CVA Family Office LLC boosted its stake in shares of Fortinet by 12.1% during the second quarter. CVA Family Office LLC now owns 1,201 shares of the software maker’s stock valued at $127,000 after purchasing an additional 130 shares during the period. 83.71% of the stock is owned by institutional investors.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 beat and raised full‑year guidance — Fortinet reported Q4 revenue of $1.91B and EPS of $0.81 (above estimates) and issued FY‑2026 EPS guidance ahead of consensus; management highlighted strong enterprise demand. Read More.
• Positive Sentiment: Billings, product growth and Unified SASE strength — Billings rose ~18% (Unified SASE billings up ~40%) and product revenue grew double digits, underpinning revenue momentum. Read More.
• Positive Sentiment: Buyback expanded — company increased its buyback program by $1B to roughly $10.25B through Feb 2027, a shareholder‑friendly move that supports the stock. Read More.
• Positive Sentiment: Some bullish analyst action — Rosenblatt raised its target to $105 (buy), and Wedbush reaffirmed an outperform with a $90 target, giving upside voices amid mixed comments. Read More. • Read More.
• Neutral Sentiment: Primary disclosures and management commentary — full earnings call transcript and presentation are available for deeper read on cloud/SASE strategy and guidance detail. Read More. • Read More.
• Negative Sentiment: Analyst caution still present — JPMorgan and Mizuho raised price targets slightly but kept underweight/outperform/underperform stances that imply limited near‑term upside from some shops; Jefferies also remains cautious on 2026. Read More. • Read More. • Read More.
• Negative Sentiment: Insider selling — filings show large sales by the CEO and a VP, which may raise short‑term governance/flow concerns for some investors. Read More. • Read More.
• Neutral Sentiment: Street positioning mixed — some firms (Robert W. Baird, others) keep holds or reiterate neutral stances citing product strength offset by services slowdown or limited near‑term upside. Read More.

Fortinet Price Performance

FTNT opened at $82.76 on Monday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.82. The company has a market cap of $61.54 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. 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 stock has a fifty day simple moving average of $80.37 and a two-hundred day simple moving average of $82.57.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business earned $0.74 EPS. Fortinet’s quarterly revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on FTNT shares. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. Royal Bank Of Canada restated a “sector perform” rating and issued a $90.00 price objective (up previously from $85.00) on shares of Fortinet in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. Citigroup reissued a “neutral” rating and issued a $85.00 target price (up from $83.00) on shares of Fortinet in a research note on Monday, January 12th. Finally, Daiwa Securities Group lowered Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.46.

Insider Buying and Selling

In other news, VP Michael Xie sold 343,106 shares of Fortinet 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 transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 175,737 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 value of $14,308,506.54. Following the completion of the sale, the chief executive officer directly owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by company insiders.

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.