APG Asset Management N.V. Buys 8,400 Shares of Fortinet, Inc. $FTNT

APG Asset Management N.V. boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 2.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 412,417 shares of the software maker’s stock after buying an additional 8,400 shares during the period. APG Asset Management N.V. owned approximately 0.05% of Fortinet worth $34,676,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. LSV Asset Management bought a new position in shares of Fortinet during the second quarter worth approximately $25,000. Financial Consulate Inc. acquired a new position in Fortinet in the 3rd quarter valued at $25,000. Steigerwald Gordon & Koch Inc. bought a new position in Fortinet during the 3rd quarter worth $25,000. SJS Investment Consulting Inc. increased its position in Fortinet by 1,556.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after buying an additional 358 shares during the period. Finally, Westside Investment Management Inc. lifted its holdings in shares of Fortinet by 100.0% during the third quarter. Westside Investment Management Inc. now owns 448 shares of the software maker’s stock worth $38,000 after buying an additional 224 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $79.03 on Monday. Fortinet, Inc. has a one year low of $70.12 and a one 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 company has a market cap of $58.48 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.73 and a beta of 1.05. The firm has a 50 day simple moving average of $80.14 and a 200 day simple moving average of $81.40.

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, topping 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 company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The company’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. Research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Michael Xie sold 343,106 shares of Fortinet 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 sale, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the sale, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 18.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Daiwa Securities Group lowered shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target on the stock. in a research report on Wednesday, November 12th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. JPMorgan Chase & Co. boosted their price target on Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, February 6th. Finally, Barclays set a $88.00 price objective on Fortinet in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.42.

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.