Legal & General Group Plc Boosts Stock Position in Fortinet, Inc. $FTNT

Legal & General Group Plc increased its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,115,450 shares of the software maker’s stock after acquiring an additional 273,428 shares during the quarter. Legal & General Group Plc owned about 0.82% of Fortinet worth $514,187,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Fortinet by 2.2% in the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares in the last quarter. Bison Wealth LLC bought a new position in Fortinet in the 4th quarter worth $585,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of Fortinet in the second quarter valued at about $263,000. AE Wealth Management LLC boosted its stake in shares of Fortinet by 7.0% in the second quarter. AE Wealth Management LLC now owns 5,731 shares of the software maker’s stock worth $606,000 after acquiring an additional 373 shares during the period. Finally, Prospera Financial Services Inc grew its position in shares of Fortinet by 37.5% during the second quarter. Prospera Financial Services Inc now owns 6,419 shares of the software maker’s stock worth $679,000 after purchasing an additional 1,751 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on FTNT shares. Freedom Capital cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $70.00 price objective (up from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. Robert W. Baird set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Finally, UBS Group reaffirmed a “neutral” rating and set a $90.00 target price on shares of Fortinet in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average target price of $88.62.

Fortinet Price Performance

Shares of Fortinet stock opened at $84.20 on Wednesday. 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 firm has a market cap of $62.30 billion, a PE ratio of 34.65, a P/E/G ratio of 2.90 and a beta of 1.05. The business has a 50-day moving average price of $80.37 and a 200 day moving average price of $81.58. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $109.33.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $0.74 EPS. Fortinet’s quarterly revenue 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. Sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In related news, 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 value of $14,308,506.54. Following the completion of the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction on 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 transaction, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate 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.