Fortinet, Inc. $FTNT Holdings Increased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 48.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,469,882 shares of the software maker’s stock after acquiring an additional 801,943 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.34% of Fortinet worth $441,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FTNT. BlackRock Inc. purchased a new stake in Fortinet during the 2nd quarter valued at about $9,561,650,000. Bank of New York Mellon Corp purchased a new position in Fortinet in the 2nd quarter worth approximately $1,432,842,000. Legal & General Group Plc purchased a new position in Fortinet in the 2nd quarter worth approximately $979,062,000. Arrowstreet Capital Limited Partnership increased its stake in Fortinet by 87.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares during the period. Finally, Bank of America Corp DE bought a new stake in Fortinet in the second quarter valued at approximately $656,852,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were 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 of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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, CEO Ken Xie sold 161,482 shares of the 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 transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. 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. Over the last 90 days, insiders have sold 221,303 shares of company stock valued at $36,164,034. 17.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stephens increased their price target on shares of Fortinet from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Barclays set a $210.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research report on Monday, October 12th. TD Cowen reiterated a “buy” rating and set a $225.00 target price (up from $215.00) on shares of Fortinet in a report on Tuesday, October 13th. HC Wainwright reiterated a “buy” rating on shares of Fortinet in a report on Thursday, July 30th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $145.00 price target (up from $102.00) on shares of Fortinet in a report on Thursday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $161.39.

Fortinet Stock Down 0.3%

Shares of Fortinet stock opened at $170.93 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. The company has a 50-day moving average of $169.65 and a 200 day moving average of $144.56. The firm has a market cap of $125.41 billion, a price-to-earnings ratio of 60.19, a PEG ratio of 3.20 and a beta of 1.03. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $197.13.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Fortinet’s quarterly revenue 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, sell-side analysts anticipate that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.

About Fortinet

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.