Mediolanum International Funds Ltd Raises Position in Fortinet, Inc. $FTNT

Mediolanum International Funds Ltd increased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 34.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,549 shares of the software maker’s stock after purchasing an additional 72,289 shares during the period. Mediolanum International Funds Ltd’s holdings in Fortinet were worth $24,002,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Everhart Financial Group Inc. increased its stake in shares of Fortinet by 5.2% during the 3rd quarter. Everhart Financial Group Inc. now owns 6,068 shares of the software maker’s stock valued at $510,000 after acquiring an additional 302 shares during the last quarter. Lingohr Asset Management GmbH purchased a new stake in Fortinet in the third quarter valued at approximately $244,000. National Pension Service increased its position in Fortinet by 2.3% during the third quarter. National Pension Service now owns 2,223,198 shares of the software maker’s stock worth $186,926,000 after purchasing an additional 50,861 shares during the last quarter. AlphaQuest LLC purchased a new position in Fortinet during the third quarter worth approximately $273,000. Finally, Meridian Management Co. boosted its holdings in shares of Fortinet by 1.1% in the 3rd quarter. Meridian Management Co. now owns 44,627 shares of the software maker’s stock valued at $3,752,000 after purchasing an additional 504 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on FTNT shares. Robert W. Baird dropped their price objective on Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Monday, November 24th. JPMorgan Chase & Co. dropped their price target on Fortinet from $75.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday. Rosenblatt Securities raised Fortinet from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $100.00 in a research note on Thursday. Finally, TD Cowen upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $90.48.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt upgraded FTNT to a Buy and raised its price target to $100 (from $85), a bullish endorsement that can support share gains. Read More.
• Positive Sentiment: TD Cowen upgraded FTNT to Buy (PT $100) and called the valuation reasonable after channel checks showed stability — an influential bank upgrade that likely boosted buying interest. Read More.
• Positive Sentiment: Fortinet announced a FortiCNAPP upgrade emphasizing tighter cloud security integration and investor-focused messaging on cloud risk management — product progress that supports the company’s platform story and competitive moat. Read More.
• Positive Sentiment: Sector lift: coverage of Fortinet’s upgrades has helped buoy cybersecurity peers (e.g., CrowdStrike), indicating the upgrade-driven sentiment is spilling across the group and can provide additional support to FTNT. Read More.
• Neutral Sentiment: Elevated investor interest/search activity around FTNT signals heightened attention and liquidity, which can amplify moves in either direction depending on news flow. Read More.
• Neutral Sentiment: Multiple pieces profile Fortinet’s unified cloud-risk platform and longer-term moat — constructive for medium-term growth expectations but not an immediate earnings catalyst. Read More.
• Negative Sentiment: Zacks preview warns Fortinet lacks the setup for a likely earnings beat next week — this raises downside risk into the print and helps explain intraday pullbacks despite the bullish headlines. Read More.
• Neutral Sentiment: Scheduled earnings coverage and media previews mean volatility is likely until results/guidance are released — traders should watch the upcoming report for guidance vs. consensus. Read More.

Fortinet Stock Performance

Shares of FTNT stock opened at $81.26 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94. The company’s fifty day moving average price is $80.36 and its two-hundred day moving average price is $83.58. The firm has a market capitalization of $60.43 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.84 and a beta of 1.07. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. On average, research analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total value of $13,710,537.35. Following the transaction, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael Xie sold 3,546 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by insiders.

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.