Fortinet, Inc. $FTNT Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia raised its position in Fortinet, Inc. (NASDAQ:FTNT) by 47.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,541 shares of the software maker’s stock after acquiring an additional 119,415 shares during the quarter. Bank of Nova Scotia’s holdings in Fortinet were worth $30,987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in Fortinet during the 2nd quarter worth approximately $1,640,900,000. Vanguard Group Inc. grew 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 acquiring an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Fortinet by 62.1% during the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after acquiring an additional 2,132,109 shares during the period. First Trust Advisors LP increased its position in shares of Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after acquiring an additional 1,790,033 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 343,106 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 $27,935,690.52. Following the completion of the sale, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 175,737 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 $14,308,506.54. Following the completion of the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is currently owned by corporate insiders.

Fortinet Stock Performance

Shares of FTNT opened at $84.49 on Tuesday. The company’s 50 day simple moving average is $80.80 and its 200-day simple moving average is $81.75. The firm has a market cap of $62.52 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 2.88 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 company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating 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 firm 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 earned $0.74 EPS. Fortinet’s revenue for the quarter was up 14.8% on a year-over-year basis. 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, equities analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $70.00 target price (up from $66.00) on shares of Fortinet in a report on Thursday, December 18th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Friday, January 23rd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Friday, February 6th. Rosenblatt Securities boosted their price objective on Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Oppenheimer restated a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. One equities research 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 given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.62.

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.