Daiichi Life Insurance Co. Ltd. Makes New Investment in Fortinet, Inc. $FTNT

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,156 shares of the software maker’s stock, valued at approximately $3,864,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Fortinet during the second quarter valued at about $9,561,650,000. State Street Corp raised its holdings in Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Norges Bank purchased a new stake in shares of Fortinet during the fourth quarter valued at about $1,152,917,000. Bank of New York Mellon Corp lifted its position in shares of Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after buying an additional 893,190 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Fortinet by 45.5% in the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after buying an additional 3,598,487 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on FTNT shares. William Blair reiterated a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. HSBC downgraded Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target on the stock. in a research report on Monday, June 29th. Truist Financial set a $183.00 price objective on Fortinet and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Robert W. Baird set a $165.00 target price on Fortinet in a research report on Thursday, July 30th. Finally, Morgan Stanley reissued a “positive” rating and issued a $136.00 price target (up from $133.00) on shares of Fortinet in a report 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 given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $150.91.

Insider Activity at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction 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 sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock in a transaction 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 owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. 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. In the last quarter, insiders sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is owned by corporate insiders.

Fortinet Stock Performance

Shares of FTNT stock opened at $153.51 on Monday. The firm has a market capitalization of $112.63 billion, a price-to-earnings ratio of 54.05, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The business has a fifty day moving average of $156.24 and a 200 day moving average of $117.87. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09.

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, beating the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion for 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 company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous 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. As a group, research analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current 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.