Tobam Increases Holdings in Fortinet, Inc. $FTNT

Tobam boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 110.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,616 shares of the software maker’s stock after purchasing an additional 14,494 shares during the period. Tobam’s holdings in Fortinet were worth $2,322,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FTNT. Capital Planning Advisors LLC purchased a new stake in shares of Fortinet in the 3rd quarter worth about $1,367,000. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Fortinet by 2.4% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 20,759 shares of the software maker’s stock worth $1,745,000 after acquiring an additional 492 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Fortinet by 4.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 229,187 shares of the software maker’s stock worth $19,270,000 after purchasing an additional 9,899 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Fortinet by 18.1% in the 3rd quarter. HighTower Advisors LLC now owns 318,956 shares of the software maker’s stock valued at $26,818,000 after purchasing an additional 48,789 shares in the last quarter. Finally, Florida Financial Advisors LLC grew its holdings in shares of Fortinet by 29.8% during the third quarter. Florida Financial Advisors LLC now owns 12,787 shares of the software maker’s stock worth $1,075,000 after buying an additional 2,936 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 343,106 shares of the stock in a transaction dated 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 sale, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on FTNT. Citigroup restated a “neutral” rating and set a $90.00 target price (up previously from $85.00) on shares of Fortinet in a research report on Monday, February 9th. TD Cowen upgraded Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. Evercore ISI set a $80.00 target price on Fortinet in a research report on Friday, February 6th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.07.

Fortinet Price Performance

FTNT stock opened at $85.56 on Monday. The company has a market cap of $63.63 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.95 and a beta of 1.06. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $80.56 and a two-hundred day moving average price of $81.92. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.82.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company 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, research analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

About Fortinet

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.