First Trust Advisors LP Has $636.96 Million Holdings in Fortinet, Inc. $FTNT

First Trust Advisors LP lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 30.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,575,662 shares of the software maker’s stock after purchasing an additional 1,790,033 shares during the quarter. First Trust Advisors LP owned 1.02% of Fortinet worth $636,962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. L2 Asset Management LLC increased its stake in Fortinet by 5.1% during the 2nd quarter. L2 Asset Management LLC now owns 2,847 shares of the software maker’s stock worth $301,000 after acquiring an additional 137 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Fortinet by 40.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 481 shares of the software maker’s stock valued at $40,000 after acquiring an additional 139 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Fortinet by 11.4% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,410 shares of the software maker’s stock worth $149,000 after purchasing an additional 144 shares in the last quarter. Fiduciary Alliance LLC increased its position in shares of Fortinet by 3.0% in the third quarter. Fiduciary Alliance LLC now owns 5,093 shares of the software maker’s stock worth $428,000 after purchasing an additional 147 shares during the period. Finally, Empirical Finance LLC increased its position in shares of Fortinet by 0.7% in the second quarter. Empirical Finance LLC now owns 21,936 shares of the software maker’s stock worth $2,319,000 after purchasing an additional 148 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group reaffirmed a “neutral” rating and set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Rosenblatt Securities raised their target price on shares of Fortinet from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $83.00 price target on shares of Fortinet in a report on Friday, February 6th. Freedom Capital lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Piper Sandler reissued a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.62.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Xie sold 343,106 shares of the firm’s 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 sale, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. This represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by corporate insiders.

Fortinet Stock Performance

Fortinet stock opened at $83.67 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The stock has a market cap of $61.91 billion, a PE ratio of 34.43, a P/E/G ratio of 2.92 and a beta of 1.05. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $109.33. The business’s 50-day moving average price is $80.23 and its two-hundred day moving average price is $81.48.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The business’s revenue for the quarter 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. As a group, analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal 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.