Assenagon Asset Management S.A. Buys 9,807 Shares of Fortinet, Inc. $FTNT

Assenagon Asset Management S.A. boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 57.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,970 shares of the software maker’s stock after buying an additional 9,807 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Fortinet were worth $2,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of FTNT. Pinnacle Holdings LLC purchased a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Financial Consulate Inc. purchased a new stake in Fortinet in the 3rd quarter worth about $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in Fortinet in the third quarter worth about $25,000. Ameriflex Group Inc. bought a new stake in Fortinet in the third quarter worth about $25,000. Finally, Wexford Capital LP purchased a new position in shares of Fortinet during the third quarter valued at approximately $25,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $79.05 on Tuesday. The firm’s 50 day simple moving average is $81.48 and its 200-day simple moving average is $81.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a one year low of $70.12 and a one year high of $109.33. The firm has a market cap of $58.49 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 2.69 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.Fortinet’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. As a group, equities analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of analyst reports. Stifel Nicolaus set a $85.00 target price on Fortinet in a research note on Wednesday, March 11th. Evercore set a $80.00 price target on Fortinet in a research note on Friday, February 6th. Robert W. Baird set a $90.00 price objective on Fortinet in a report on Friday, February 6th. Barclays set a $88.00 price objective on Fortinet in a research report on Tuesday, February 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $88.62.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 343,106 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction 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. This represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ken Xie sold 175,737 shares of the firm’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 $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 18.00% of the stock is currently owned by corporate insiders.

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.