Railway Pension Investments Ltd Acquires Shares of 309,800 Fortinet, Inc. $FTNT

Railway Pension Investments Ltd purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 309,800 shares of the software maker’s stock, valued at approximately $47,591,000.

Several other institutional investors have also recently bought and sold shares of FTNT. BlackRock Inc. bought a new stake in shares of Fortinet during the second quarter worth $9,561,650,000. State Street Corp grew its position in shares of Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after buying an additional 477,397 shares during the period. Norges Bank bought a new stake in shares of Fortinet during the fourth quarter worth approximately $1,152,917,000. Bank of New York Mellon Corp boosted its stake in Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after acquiring an additional 893,190 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after purchasing an additional 3,598,487 shares during the period. Institutional investors own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Rosenblatt Securities increased their price target on shares of Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $190.00 target price on shares of Fortinet in a research note on Thursday, July 30th. DZ Bank cut shares of Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Stephens set a $115.00 price target on shares of Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. Finally, UBS Group restated a “neutral” rating and issued a $180.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $150.91.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 168,510 shares of company stock valued at $27,346,371. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Up 3.0%

NASDAQ:FTNT opened at $170.93 on Tuesday. The stock has a 50-day simple moving average of $158.19 and a 200 day simple moving average of $121.25. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $173.89. The company has a market cap of $125.41 billion, a PE ratio of 60.19, a PEG ratio of 3.15 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, sell-side analysts expect that Fortinet, Inc. will post 3.05 EPS for the current fiscal 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.