Fortinet, Inc. $FTNT Stock Holdings Lifted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its position in Fortinet, Inc. (NASDAQ:FTNT) by 48.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,469,882 shares of the software maker’s stock after buying an additional 801,943 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Fortinet were worth $441,516,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of FTNT. BlackRock Inc. purchased a new stake in shares of Fortinet during the second quarter worth about $9,561,650,000. Bank of New York Mellon Corp bought a new stake in Fortinet during the 2nd quarter valued at approximately $1,432,842,000. Legal & General Group Plc purchased a new position in Fortinet in the 2nd quarter worth approximately $979,062,000. Arrowstreet Capital Limited Partnership lifted its holdings in Fortinet by 87.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Fortinet in the 2nd quarter worth approximately $656,852,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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, COO John Whittle sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the sale, the chief operating officer directly owned 96,987 shares in the company, valued at $16,365,586.38. This trade represents a 2.84% 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. Over the last 90 days, insiders have sold 221,303 shares of company stock worth $36,164,034. Insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $170.93 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $125.41 billion, a price-to-earnings ratio of 60.19, a PEG ratio of 3.20 and a beta of 1.03. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $197.13. The company’s 50 day moving average is $169.65 and its 200 day moving average is $144.56.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter 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. On average, sell-side analysts anticipate that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FTNT. Bank of America reaffirmed a “buy” rating on shares of Fortinet in a report on Monday, July 27th. JPMorgan Chase & Co. raised their target price on shares of Fortinet from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Thursday, July 30th. HC Wainwright reiterated a “buy” rating on shares of Fortinet in a report on Thursday, July 30th. Yorkville Ives started coverage on shares of Fortinet in a report on Tuesday, October 6th. They set an “outperform” rating and a $225.00 price objective for the company. Finally, HSBC raised their price objective on Fortinet from $102.00 to $107.00 in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fortinet presently has an average rating of “Hold” and an average price target of $161.39.

Fortinet Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.