Neo Ivy Capital Management Makes New Investment in Fortinet, Inc. $FTNT

Neo Ivy Capital Management purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,412 shares of the software maker’s stock, valued at approximately $2,053,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Fortinet in the 2nd quarter worth $1,640,900,000. Vanguard Group Inc. raised its position in shares of Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp lifted its holdings in shares of Fortinet by 3.0% during the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after purchasing an additional 862,468 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fortinet by 28.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,846,164 shares of the software maker’s stock valued at $323,386,000 after purchasing an additional 858,723 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Fortinet by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after purchasing an additional 828,569 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Down 0.9%

Shares of Fortinet stock opened at $83.67 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $109.33. The company has a market cap of $61.91 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.92 and a beta of 1.05. 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 stock has a 50-day moving average price of $80.23 and a 200 day moving average price of $81.48.

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

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 175,737 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on FTNT shares. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a report on Monday, November 24th. Evercore set a $80.00 target price on shares of 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. Piper Sandler restated a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a report on Monday, January 5th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.62.

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.