Aberdeen Group plc Sells 32,598 Shares of Fortinet, Inc. $FTNT

Aberdeen Group plc cut its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 6.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 480,514 shares of the software maker’s stock after selling 32,598 shares during the period. Aberdeen Group plc owned about 0.06% of Fortinet worth $40,402,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FTNT. Norges Bank bought a new position in Fortinet in the 2nd quarter valued at $1,640,900,000. Vanguard Group Inc. boosted its holdings in shares of Fortinet by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock worth $7,684,461,000 after buying an additional 1,024,516 shares during the last quarter. State Street Corp grew its position in 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 buying an additional 862,468 shares during the period. Geode Capital Management LLC increased its holdings in Fortinet by 5.2% during the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock worth $1,783,091,000 after buying an additional 828,569 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Fortinet by 213.0% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,158,646 shares of the software maker’s stock worth $122,492,000 after acquiring an additional 788,436 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday, February 6th. BMO Capital Markets upped their price objective on Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a research note on Monday, February 9th. UBS Group reissued a “neutral” rating and issued a $90.00 target price on shares of Fortinet in a research report on Friday, February 6th. Daiwa Securities Group lowered Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 target price on the stock. in a research note on Wednesday, November 12th. Finally, Wedbush reiterated an “outperform” rating and set 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 assigned a Buy rating, twenty-two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.07.

Fortinet Trading Up 1.5%

Shares of FTNT opened at $85.56 on Tuesday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The stock has a market cap of $63.63 billion, a PE ratio of 35.21, a P/E/G ratio of 2.95 and a beta of 1.06. 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 business’s 50-day moving average price is $80.60 and its 200-day moving average price is $81.82.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. Fortinet’s revenue was up 14.8% compared to the same quarter last year. During the same period last 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. On average, equities analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ken Xie sold 175,737 shares of Fortinet 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 sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 18.00% of the company’s stock.

Fortinet Company 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.