Iyo Bank Ltd. Invests $4.84 Million in Fortinet, Inc. $FTNT

Iyo Bank Ltd. purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,501 shares of the software maker’s stock, valued at approximately $4,839,000. Fortinet accounts for approximately 1.5% of Iyo Bank Ltd.’s investment portfolio, making the stock its 26th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTNT. Elevation Wealth Partners LLC lifted its position in Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after buying an additional 75 shares in the last quarter. Florida Financial Advisors LLC boosted its stake in shares of Fortinet by 3.0% during the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after buying an additional 109 shares during the period. Optimist Retirement Group LLC grew its holdings in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after acquiring an additional 122 shares in the last quarter. GW&K Investment Management LLC grew its holdings in shares of Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after acquiring an additional 123 shares in the last quarter. Finally, Delta Investment Management LLC increased its stake in shares of Fortinet by 2.4% in the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after acquiring an additional 125 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Trading Up 1.8%

Shares of NASDAQ:FTNT opened at $153.51 on Friday. The stock has a market capitalization of $112.63 billion, a PE ratio of 54.05, a P/E/G ratio of 2.86 and a beta of 1.07. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The firm has a fifty day moving average price of $156.24 and a 200 day moving average price of $117.61. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts expect that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% 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, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FTNT has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating and set a $190.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Weiss Ratings lowered Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. TD Cowen reaffirmed a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Citigroup lifted their price target on Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Barclays set a $190.00 price target on Fortinet and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $150.91.

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.