25,156 Shares in Fortinet, Inc. $FTNT Purchased by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 25,156 shares of the software maker’s stock, valued at approximately $3,864,000.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Fortinet by 2.2% during the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after purchasing an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new stake in Fortinet during the fourth quarter worth $585,000. HUB Investment Partners LLC grew its position in Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after buying an additional 1,193 shares during the period. Diversify Advisory Services LLC purchased a new position in Fortinet in the second quarter valued at $1,136,000. Finally, Quantinno Capital Management LP raised its position in shares of Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after acquiring an additional 31,202 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $160.00 target price on shares of Fortinet in a research report on Thursday, July 30th. DZ Bank downgraded Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Wolfe Research set a $175.00 price objective on Fortinet in a research report on Thursday, July 30th. Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Finally, Stephens set a $115.00 target price on Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus price target of $150.91.

Fortinet Price Performance

FTNT opened at $153.51 on Monday. The company has a market cap of $112.63 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The company has a 50-day moving average price of $156.24 and a 200 day moving average price of $117.87. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm posted $0.64 EPS. Fortinet’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. Sell-side analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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, 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 sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 329,142 shares of company stock worth $50,731,178 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

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.