BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Position in Fortinet, Inc. $FTNT

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Fortinet, Inc. (NASDAQ:FTNT) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,370,633 shares of the software maker’s stock after buying an additional 65,281 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.18% of Fortinet worth $114,968,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Fortinet in the 2nd quarter valued at approximately $1,640,900,000. Vanguard Group Inc. raised its stake in shares of Fortinet by 4.0% in 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 during the last quarter. State Street Corp lifted its holdings in shares of Fortinet by 3.0% during 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 purchasing an additional 862,468 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fortinet by 5.2% during 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. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Fortinet by 213.0% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,158,646 shares of the software maker’s stock worth $122,492,000 after buying an additional 788,436 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore set a $80.00 target price on shares of Fortinet in a research note on Friday, February 6th. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research report on Monday, November 24th. TD Cowen upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Friday, January 23rd. Finally, UBS Group restated a “neutral” rating and issued a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average price target of $89.42.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $81.67 on Friday. The stock has a market cap of $60.73 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 2.78 and a beta of 1.06. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.57. The firm has a fifty day moving average price of $80.53 and a 200-day moving average price of $81.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share 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 the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $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. Equities analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was 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 represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 17.20% of the company’s stock.

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.