ICICI Prudential Asset Management Co Ltd Has $3.34 Million Position in Fortinet, Inc. $FTNT

ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 314.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,767 shares of the software maker’s stock after buying an additional 30,175 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Fortinet were worth $3,344,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FTNT. Brighton Jones LLC raised its holdings in shares of Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC bought a new stake in Fortinet during the fourth quarter worth $585,000. International Assets Investment Management LLC raised its position in Fortinet by 4.8% in the 2nd quarter. International Assets Investment Management LLC now owns 3,360 shares of the software maker’s stock valued at $355,000 after buying an additional 153 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Fortinet by 17.2% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,067 shares of the software maker’s stock worth $427,000 after acquiring an additional 597 shares during the last quarter. Finally, Phoenix Financial Ltd. lifted its position in shares of Fortinet by 25.1% during the second quarter. Phoenix Financial Ltd. now owns 3,143 shares of the software maker’s stock valued at $332,000 after purchasing an additional 631 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FTNT shares. Robert W. Baird set a $90.00 target price on Fortinet in a report on Friday, February 6th. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, January 23rd. Sanford C. Bernstein restated a “market perform” rating and set a $83.00 price objective on shares of Fortinet in a report on Friday, February 6th. Finally, Rosenblatt Securities raised their price target on shares of Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $89.42.

Fortinet Trading Up 1.2%

Shares of Fortinet stock opened at $81.67 on Friday. The company’s 50-day moving average price is $80.53 and its 200-day moving average price is $81.70. 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 company has a market cap of $60.73 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.78 and a beta of 1.06. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.57.

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

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Xie sold 343,106 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. This trade represents a 3.25% 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.

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.