Nomura Asset Management Co. Ltd. Increases Stock Holdings in Fortinet, Inc. $FTNT

Nomura Asset Management Co. Ltd. increased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268,802 shares of the software maker’s stock after purchasing an additional 6,673 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Fortinet were worth $21,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTNT. Pinnacle Holdings LLC purchased a new stake in shares of Fortinet in the third quarter valued at $25,000. Ameriflex Group Inc. purchased a new stake in shares of Fortinet in the third quarter valued at $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet in the third quarter valued at $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fortinet in the fourth quarter valued at $27,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Fortinet in the third quarter valued at $28,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 6.6%

Shares of FTNT opened at $147.14 on Tuesday. The stock’s 50-day moving average is $98.25 and its two-hundred day moving average is $87.10. The stock has a market cap of $107.80 billion, a PE ratio of 56.81, a P/E/G ratio of 3.80 and a beta of 1.11. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $147.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities analysts forecast that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 2,478 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the transaction, the vice president owned 9,927,517 shares in the company, valued at $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 153,848 shares of company stock worth $19,446,115 over the last quarter. 17.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FTNT shares. Sanford C. Bernstein reiterated a “market perform” rating and issued a $83.00 target price on shares of Fortinet in a report on Friday, February 6th. Piper Sandler lifted their target price on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating and issued a $125.00 target price (up from $100.00) on shares of Fortinet in a report on Thursday, May 7th. Susquehanna lifted their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, UBS Group lifted their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $102.69.

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.