Banque Cantonale Vaudoise Has $4.26 Million Stake in Fortinet, Inc. $FTNT

Banque Cantonale Vaudoise lowered its stake in Fortinet, Inc. (NASDAQ:FTNT) by 16.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,671 shares of the software maker’s stock after selling 9,939 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Fortinet were worth $4,260,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FTNT. Vanguard Group Inc. grew its holdings in shares of Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares during the last quarter. State Street Corp lifted its stake in Fortinet by 3.0% in the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after purchasing an additional 862,468 shares during the last quarter. Geode Capital Management LLC lifted its stake in Fortinet by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after purchasing an additional 828,569 shares during the last quarter. Norges Bank acquired a new stake in Fortinet in the second quarter valued at approximately $1,640,900,000. Finally, Invesco Ltd. boosted its position in Fortinet by 7.9% in the second quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock valued at $977,718,000 after buying an additional 677,654 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Fortinet news, VP Michael Xie sold 343,106 shares of the company’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 in the company, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ken Xie sold 175,737 shares of the company’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 sale, 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 insiders.

Wall Street Analyst Weigh In

FTNT has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, February 6th. UBS Group reissued a “neutral” rating and set a $90.00 price objective on shares of 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. Truist Financial set a $88.00 target price on Fortinet in a report on Tuesday, January 20th. Finally, Evercore set a $80.00 target price on Fortinet in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.62.

Fortinet Price Performance

FTNT stock opened at $83.81 on Tuesday. The company has a market capitalization of $62.01 billion, a P/E ratio of 34.49, a PEG ratio of 2.89 and a beta of 1.05. The company has a fifty day moving average price of $80.29 and a 200-day moving average price of $81.55. 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 52-week low of $70.12 and a 52-week high of $109.33.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. Fortinet’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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 expect that Fortinet, Inc. will post 2.09 EPS for the current year.

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.