Rhumbline Advisers Purchases 28,165 Shares of Fortinet, Inc. $FTNT

Rhumbline Advisers increased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,223,244 shares of the software maker’s stock after buying an additional 28,165 shares during the period. Rhumbline Advisers owned 0.16% of Fortinet worth $102,850,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FTNT. LSV Asset Management acquired a new stake in shares of Fortinet in the second quarter valued at about $25,000. Financial Consulate Inc. acquired a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. bought a new position in Fortinet in the 3rd quarter worth approximately $25,000. SJS Investment Consulting Inc. lifted its holdings in shares of Fortinet by 1,556.5% during the third quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after buying an additional 358 shares during the last quarter. Finally, Quaker Wealth Management LLC boosted its position in shares of Fortinet by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after acquiring an additional 726 shares during the period. Institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other Fortinet news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction dated 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 transaction, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was 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 of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FTNT shares. Barclays set a $88.00 target price on shares of Fortinet in a research note on Tuesday, February 3rd. Robert W. Baird set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Mizuho upped their price target on Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. raised their price objective on Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.07.

Fortinet Trading Up 2.7%

FTNT stock opened at $87.82 on Thursday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $80.60 and its 200-day moving average is $82.34. The firm has a market cap of $65.31 billion, a P/E ratio of 36.14, a P/E/G ratio of 2.95 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.Fortinet’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm 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. Equities analysts anticipate that Fortinet, Inc. will post 2.09 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.