Fortinet, Inc. $FTNT Shares Bought by Willis Investment Counsel

Willis Investment Counsel lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 40.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 183,300 shares of the software maker’s stock after buying an additional 52,852 shares during the quarter. Willis Investment Counsel’s holdings in Fortinet were worth $15,412,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTNT. Norges Bank purchased a new stake in Fortinet during the 2nd quarter worth $1,640,900,000. Vanguard Group Inc. boosted its position in Fortinet by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after buying an additional 1,024,516 shares during the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in shares of Fortinet during the second quarter valued at about $108,056,000. State Street Corp increased its position in shares of Fortinet by 3.0% during the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock worth $3,085,244,000 after acquiring an additional 862,468 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Fortinet by 5.2% in the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after purchasing an additional 828,569 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FTNT shares. Scotiabank downgraded Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective on the stock. in a report on Monday. Robert W. Baird dropped their price target on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Oppenheimer reiterated a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Citigroup reissued a “neutral” rating and issued a $85.00 target price (up previously from $83.00) on shares of Fortinet in a research report on Monday, January 12th. Finally, Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.11.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 results beat expectations — EPS $0.81 vs. $0.74 and revenue $1.91B; billings and product growth (Unified SASE billings +40%) were highlighted, supporting the company’s competitive positioning and near‑term momentum. Fortinet Reports Strong Fourth Quarter and Full Year 2025 Financial Results
• Positive Sentiment: Fortinet raised FY‑2026 EPS guidance to $2.94–3.00 (above Street consensus of ~2.79), which supports longer‑term earnings visibility and likely underpinned earlier upside in the stock. Fortinet Inc. (FTNT) Stock Rises on Q4 2025 Earnings
• Positive Sentiment: Rosenblatt boosted its price target to $105 and lifted to a Buy, indicating upbeat analyst conviction and implying material upside from current levels. Benzinga
• Positive Sentiment: Press coverage argues Fortinet can dodge broader tech weakness after the earnings beat, suggesting the stock could outperform peers if demand holds. Fortinet Stock Rises After Earnings Beat. Why It Can Dodge the Tech Selloff.
• Neutral Sentiment: Q1 guidance was given as $0.59–0.63 EPS (street ~0.62) and revenue range near consensus — effectively mixed: FY guide looks strong, but the Q1 range is only roughly in line. View Press Release
• Neutral Sentiment: Some brokers are cautious: Jefferies expected only a modest beat and remains cautious on 2026, and Robert W. Baird reiterated a Hold — mixed analyst reactions may limit immediate upside. Jefferies Sees Modest Q4 Beat for Fortinet (FTNT), Remains Cautious on 2026
• Negative Sentiment: Large insider sales: the CEO sold about $14.3M and a VP sold about $27.9M in company stock — sizable insider disposals can create short‑term selling pressure or raise governance/insider‑confidence questions. Fortinet (NASDAQ:FTNT) CEO Sells $14,308,506.54 in Stock Fortinet (NASDAQ:FTNT) VP Sells $27,935,690.52 in Stock
• Negative Sentiment: Some analysts have trimmed ratings or reassessed 2026 growth expectations amid macro and service‑revenue cadence concerns, which can cap multiple expansion despite strong headline results. Fortinet (FTNT) Downgraded as Analysts Reassess 2026 Growth Outlook

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 343,106 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the transaction, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.20% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $80.17 on Friday. The company has a market cap of $59.62 billion, a P/E ratio of 33.81, a PEG ratio of 2.80 and a beta of 1.06. The business has a 50 day moving average of $80.34 and a two-hundred day moving average of $83.05. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. As a group, analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current year.

Fortinet Company 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.