Meiji Yasuda Asset Management Co Ltd. Purchases New Position in Fortinet, Inc. $FTNT

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,506 shares of the software maker’s stock, valued at approximately $692,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its position in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the last quarter. Dunhill Financial LLC acquired a new stake in Fortinet during the 2nd quarter worth $25,000. Burk Holdings LLC purchased a new stake in Fortinet in the second quarter valued at $25,000. Wexford Capital LP purchased a new stake in Fortinet in the third quarter valued at $25,000. Finally, Elyxium Wealth LLC acquired a new position in Fortinet in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Up 1.1%

Shares of Fortinet stock opened at $153.66 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market capitalization of $112.74 billion, a P/E ratio of 54.11, a PEG ratio of 2.88 and a beta of 1.07. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The company’s fifty day moving average is $156.42 and its two-hundred day moving average is $118.89.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The business’s revenue 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. Analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

FTNT has been the topic of several research reports. Wolfe Research set a $175.00 price objective on Fortinet in a report on Thursday, July 30th. Wells Fargo & Company set a $135.00 target price on Fortinet and gave the company an “underweight” rating in a report on Thursday, July 30th. Robert W. Baird set a $165.00 target price on Fortinet in a research report on Thursday, July 30th. Morgan Stanley restated a “positive” rating and set a $136.00 price target (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada set a $185.00 price target on Fortinet and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Fortinet has an average rating of “Hold” and a consensus target price of $150.91.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 3,121 shares of Fortinet stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 329,142 shares of company stock valued at $50,731,178 over the last ninety days. 17.60% of the stock is owned by insiders.

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.