Varma Mutual Pension Insurance Co Makes New Investment in Fortinet, Inc. $FTNT

Varma Mutual Pension Insurance Co bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 114,400 shares of the software maker’s stock, valued at approximately $17,574,000.

Other hedge funds also recently modified their holdings of the company. Physician Wealth Advisors Inc. grew its holdings in shares of Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares in the last quarter. Dunhill Financial LLC acquired a new position in Fortinet during the second quarter valued at $25,000. Wexford Capital LP purchased a new stake in Fortinet in the 3rd quarter worth about $25,000. Elyxium Wealth LLC purchased a new stake in Fortinet in the 4th quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new stake in Fortinet during the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $153.51 on Friday. 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 one year low of $73.55 and a one year high of $172.09. The business’s 50-day moving average price is $156.24 and its two-hundred day moving average price is $117.61. The company has a market capitalization of $112.63 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07.

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

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 329,142 shares of company stock worth $50,731,178 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Arete Research set a $104.00 target price on Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. Stephens set a $115.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. TD Cowen restated a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective on the stock. in a research report on Monday, June 29th. Finally, DZ Bank lowered shares of Fortinet from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average price target of $150.91.

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.