Man Group plc Takes Position in Fortinet, Inc. $FTNT

Man Group plc bought a new position in Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 570,084 shares of the software maker’s stock, valued at approximately $87,576,000. Man Group plc owned approximately 0.08% of Fortinet 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 boosted its position 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 during the period. Bison Wealth LLC bought a new position in Fortinet in the 4th quarter worth $585,000. HUB Investment Partners LLC increased its stake in Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after buying an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in Fortinet in the 2nd quarter worth $1,136,000. Finally, Quantinno Capital Management LP lifted its position in shares of Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after acquiring an additional 31,202 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 recently issued reports on the company. Truist Financial set a $183.00 target price on Fortinet and gave the company a “buy” rating in a research note on Tuesday, July 21st. Robert W. Baird set a $165.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. TD Cowen reissued a “buy” rating and issued a $215.00 target price (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. Evercore set a $165.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $150.91.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is owned by insiders.

Fortinet Stock Performance

NASDAQ:FTNT opened at $153.66 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The stock’s 50 day simple moving average is $156.42 and its two-hundred day simple moving average is $118.89. The company has a market cap of $112.74 billion, a price-to-earnings ratio of 54.11, a PEG ratio of 2.88 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Fortinet 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.