Mitsubishi UFJ Trust & Banking Corp Increases Stock Position in Fortinet, Inc. $FTNT

Mitsubishi UFJ Trust & Banking Corp increased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,251,962 shares of the software maker’s stock after acquiring an additional 93,316 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.16% of Fortinet worth $105,265,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FTNT. LSV Asset Management acquired a new position in Fortinet in the second quarter valued at $25,000. Financial Consulate Inc. acquired a new position in Fortinet in the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. acquired a new position in Fortinet in the 3rd quarter valued at about $25,000. SJS Investment Consulting Inc. raised its stake in Fortinet by 1,556.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock valued at $32,000 after acquiring an additional 358 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in Fortinet by 41.4% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock worth $38,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded Fortinet to Buy and set a $100 price target, arguing AI risks are overstated and forecasting stronger billings into 2026 — this is the principal catalyst for today’s rally. Fortinet Is Top S&P 500 Stock After Upgrade. Don’t Worry About ‘AI Eating Software.
• Positive Sentiment: TD Cowen’s upgrade was backed by “solid checks” from the field, per reports, giving the call more credibility and suggesting demand/billings data corroborate the upbeat view. Fortinet in focus as TD Cowen upgrades on back of ‘solid checks’
• Positive Sentiment: Multiple outlets note a five‑star analyst upgrade to Buy (TipRanks/Benzinga coverage), lifting investor attention and trading volume — momentum and analyst conviction are reinforcing the move. Fortinet Stock (FTNT) Surges after Five-Star Analyst Upgrades to Buy Rating
• Positive Sentiment: Coverage summaries and quick news pieces (e.g., Benzinga/Yahoo) are amplifying the upgrade narrative, attracting short-term traders and contributing to above-average volume. Tesla removes Autopilot software, Fortinet upgraded to Buy
• Neutral Sentiment: Fortinet is appearing among intraday Nasdaq gainers and tech/AI rotation lists — helpful context for momentum but not a fundamental change. Live Nasdaq Composite: Market Mettle Tested in Whipsaw Week
• Neutral Sentiment: Industry/ETF commentary highlights Fortinet’s role in cloud and security ETFs — may attract passive inflows over time but is not an immediate catalyst. Fortinet (NASDAQ:FTNT) Nasdaq Composite ETF Cloud Security Reach

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Hsbc Global Res lowered Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Royal Bank Of Canada dropped their price objective on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 6th. Rosenblatt Securities restated a “neutral” rating and set a $85.00 price objective on shares of Fortinet in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. Finally, UBS Group dropped their price target on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and an average target price of $90.04.

Insider Buying and Selling at Fortinet

In related news, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the sale, the vice president directly owned 10,492,018 shares in the company, valued at $907,874,317.54. The trade was a 0.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ken Xie sold 158,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the transaction, the chief executive officer owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by corporate insiders.

Fortinet Stock Performance

NASDAQ:FTNT opened at $81.64 on Friday. The firm’s fifty day simple moving average is $80.14 and its 200-day simple moving average is $84.48. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a market cap of $60.71 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 2.71 and a beta of 1.07. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal 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.