Arrowstreet Capital Limited Partnership Has $390.47 Million Stock Holdings in Fortinet, Inc. $FTNT

Arrowstreet Capital Limited Partnership reduced its position in Fortinet, Inc. (NASDAQ:FTNT) by 35.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,643,983 shares of the software maker’s stock after selling 2,557,941 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.62% of Fortinet worth $390,466,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allstate Corp acquired a new position in Fortinet in the 3rd quarter valued at about $2,034,000. Asset Management One Co. Ltd. raised its holdings in Fortinet by 4.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock valued at $33,824,000 after acquiring an additional 17,892 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Fortinet by 465.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock worth $64,255,000 after acquiring an additional 622,809 shares during the last quarter. Machina Capital S.A.S. bought a new stake in shares of Fortinet during the third quarter worth approximately $1,177,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Fortinet by 5.8% during the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock worth $138,874,000 after acquiring an additional 90,284 shares during the period. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In other news, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ken Xie sold 175,737 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 $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. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FTNT shares. Evercore set a $80.00 target price on Fortinet in a research note on Friday, February 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Rosenblatt Securities increased 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. Stifel Nicolaus set a $85.00 target price on Fortinet in a report on Wednesday. Finally, BMO Capital Markets boosted their target price on shares of Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $88.62.

Fortinet Trading Up 1.1%

Shares of FTNT opened at $84.40 on Friday. 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. The firm has a market cap of $62.45 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 2.88 and a beta of 1.05. The business’s fifty day moving average is $80.55 and its 200-day moving average is $81.62.

Fortinet (NASDAQ:FTNT) last announced 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. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The business 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 company 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. Equities analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

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.