DNB Asset Management AS Has $14.41 Million Stock Position in Fortinet, Inc. $FTNT

DNB Asset Management AS lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,363 shares of the software maker’s stock after buying an additional 12,433 shares during the period. DNB Asset Management AS’s holdings in Fortinet were worth $14,408,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FTNT. Vanguard Group Inc. increased its holdings in Fortinet by 4.0% in the 3rd 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 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 worth $3,085,244,000 after purchasing an additional 862,468 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 period. Norges Bank bought a new position in Fortinet in the 2nd quarter valued at approximately $1,640,900,000. Finally, Invesco Ltd. raised its holdings in Fortinet by 7.9% in the 2nd quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock valued at $977,718,000 after buying an additional 677,654 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Down 0.2%

Shares of NASDAQ:FTNT opened at $79.03 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $110.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The business’s 50-day moving average is $80.14 and its 200-day moving average is $81.38. The company has a market capitalization of $58.48 billion, a price-to-earnings ratio of 32.52, a P/E/G ratio of 2.73 and a beta of 1.06.

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 analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous 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. Equities research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Buying and Selling 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 $4,184,693,666.70. This represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Daiwa Securities Group cut shares of 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. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a report on Monday, November 24th. Morgan Stanley reaffirmed an “underweight” rating and set a $70.00 target price (up from $66.00) on shares of Fortinet in a report on Thursday, December 18th. Mizuho increased their price target on Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research note on Friday, February 6th. Finally, Freedom Capital downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.42.

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.