Fortinet, Inc. $FTNT Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 215,177 shares of the software maker’s stock after selling 9,625 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Fortinet were worth $18,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Balboa Wealth Partners grew its stake in Fortinet by 4.3% in the 2nd quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock valued at $246,000 after acquiring an additional 96 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Fortinet by 13.2% in the second quarter. Hemington Wealth Management now owns 851 shares of the software maker’s stock valued at $89,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Fortinet by 3.6% in the second quarter. Trust Co. of Vermont now owns 2,852 shares of the software maker’s stock valued at $302,000 after purchasing an additional 100 shares in the last quarter. Board of the Pension Protection Fund grew its position in shares of Fortinet by 4.5% in the second quarter. Board of the Pension Protection Fund now owns 2,300 shares of the software maker’s stock valued at $243,000 after purchasing an additional 100 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Fortinet by 0.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 17,841 shares of the software maker’s stock worth $1,886,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded Fortinet to Buy and set a $100 price target, arguing AI risks are overstated and forecasting stronger billings into 2026 — this is the principal catalyst for today’s rally. Fortinet Is Top S&P 500 Stock After Upgrade. Don’t Worry About ‘AI Eating Software.
• Positive Sentiment: TD Cowen’s upgrade was backed by “solid checks” from the field, per reports, giving the call more credibility and suggesting demand/billings data corroborate the upbeat view. Fortinet in focus as TD Cowen upgrades on back of ‘solid checks’
• Positive Sentiment: Multiple outlets note a five‑star analyst upgrade to Buy (TipRanks/Benzinga coverage), lifting investor attention and trading volume — momentum and analyst conviction are reinforcing the move. Fortinet Stock (FTNT) Surges after Five-Star Analyst Upgrades to Buy Rating
• Positive Sentiment: Coverage summaries and quick news pieces (e.g., Benzinga/Yahoo) are amplifying the upgrade narrative, attracting short-term traders and contributing to above-average volume. Tesla removes Autopilot software, Fortinet upgraded to Buy
• Neutral Sentiment: Fortinet is appearing among intraday Nasdaq gainers and tech/AI rotation lists — helpful context for momentum but not a fundamental change. Live Nasdaq Composite: Market Mettle Tested in Whipsaw Week
• Neutral Sentiment: Industry/ETF commentary highlights Fortinet’s role in cloud and security ETFs — may attract passive inflows over time but is not an immediate catalyst. Fortinet (NASDAQ:FTNT) Nasdaq Composite ETF Cloud Security Reach

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Mizuho lowered their target price on Fortinet from $75.00 to $72.00 and set an “underperform” rating on the stock in a report on Thursday, November 6th. UBS Group decreased their price objective on Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Oppenheimer reiterated a “market perform” rating on shares of Fortinet in a research report on Friday. Royal Bank Of Canada reduced their target price on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. Finally, Hsbc Global Res downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.04.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the sale, the chief executive officer owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.53, for a total value of $306,835.38. Following the sale, the vice president owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by insiders.

Fortinet Stock Up 5.2%

FTNT opened at $81.64 on Friday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The business has a 50-day moving average of $80.14 and a two-hundred day moving average of $84.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94. The stock has a market capitalization of $60.71 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. On average, research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Fortinet Company Profile

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.