Fortinet, Inc. $FTNT Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,636,607 shares of the software maker’s stock after buying an additional 159,942 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.22% of Fortinet worth $137,629,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in FTNT. Brighton Jones LLC increased its stake in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after acquiring an additional 221 shares during the period. Bison Wealth LLC acquired a new stake in Fortinet in the fourth quarter valued at about $585,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Fortinet in the 2nd quarter valued at approximately $603,000. Meridian Wealth Management LLC boosted its holdings in Fortinet by 19.2% in the 2nd quarter. Meridian Wealth Management LLC now owns 13,312 shares of the software maker’s stock valued at $1,407,000 after purchasing an additional 2,141 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in Fortinet by 7.1% during the 2nd quarter. Cetera Investment Advisers now owns 164,728 shares of the software maker’s stock worth $17,415,000 after purchasing an additional 10,934 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FTNT shares. Truist Financial set a $88.00 target price on Fortinet in a research note on Tuesday, January 20th. JPMorgan Chase & Co. upped their price objective on Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, February 6th. Stifel Nicolaus set a $85.00 price objective on Fortinet in a research report on Wednesday, March 11th. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Finally, UBS Group restated 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 assigned a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.62.

Insider Buying and Selling at Fortinet

In related news, VP Michael Xie sold 343,106 shares of the company’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 completion of the transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.00% of the company’s stock.

Fortinet Stock Performance

FTNT opened at $84.49 on Tuesday. The stock has a market cap of $62.52 billion, a P/E ratio of 34.77, a P/E/G ratio of 2.88 and a beta of 1.05. 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 stock’s 50 day simple moving average is $80.80 and its 200 day simple moving average is $81.75. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $109.33.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The firm 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%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. 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 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.