Saudi Central Bank Makes New $31.24 Million Investment in Fortinet, Inc. $FTNT

Saudi Central Bank purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 371,486 shares of the software maker’s stock, valued at approximately $31,235,000. Fortinet comprises approximately 1.2% of Saudi Central Bank’s portfolio, making the stock its 25th largest holding.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in 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 buying an additional 221 shares during the last quarter. Bison Wealth LLC bought a new stake in shares of Fortinet during the fourth quarter valued at approximately $585,000. Sigma Planning Corp raised its holdings in Fortinet by 9.1% in the 2nd quarter. Sigma Planning Corp now owns 7,883 shares of the software maker’s stock worth $833,000 after acquiring an additional 655 shares during the last quarter. Bryce Point Capital LLC bought a new position in Fortinet in the 2nd quarter valued at approximately $576,000. Finally, Huntington National Bank lifted its position in Fortinet by 0.7% in the 2nd quarter. Huntington National Bank now owns 16,596 shares of the software maker’s stock valued at $1,755,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 2.4%

Shares of NASDAQ:FTNT opened at $81.10 on Wednesday. The stock’s 50-day simple moving average is $80.10 and its two-hundred day simple moving average is $81.42. The stock has a market capitalization of $60.01 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.74 and a beta of 1.05. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $109.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business 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. Analysts expect that Fortinet, Inc. will post 2.09 EPS for the current year.

Insiders Place Their Bets

In other news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the sale, the vice president 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ken Xie sold 175,737 shares of the firm’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 $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 18.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FTNT shares. JPMorgan Chase & Co. boosted their price target on Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, February 6th. Freedom Capital cut Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Jefferies Financial Group set a $90.00 target price on Fortinet in a research report on Friday, February 6th. Robert W. Baird set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. Finally, Barclays set a $88.00 price target on shares of Fortinet in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $88.62.

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.