Nissay Asset Management Corp Japan Buys 9,745 Shares of Fortinet, Inc. $FTNT

Nissay Asset Management Corp Japan lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,942 shares of the software maker’s stock after buying an additional 9,745 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Fortinet were worth $31,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FTNT. Burk Holdings LLC purchased a new position in shares of Fortinet during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Fortinet in the 2nd quarter valued at approximately $25,000. Elevation Wealth Partners LLC lifted its stake in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Fortinet during the second quarter valued at approximately $35,000. Finally, Kilter Group LLC purchased a new stake in Fortinet in the second quarter worth $41,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, 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 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 3,907 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% 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. In the last quarter, insiders sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is currently owned by company insiders.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Fortinet Stock Down 3.9%

FTNT stock opened at $166.00 on Friday. The business has a 50 day moving average of $157.68 and a 200 day moving average of $120.40. The firm has a market cap of $121.80 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $173.89. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping 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 firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. 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, research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FTNT shares. HC Wainwright reiterated a “buy” rating on shares of Fortinet in a report on Thursday, July 30th. The Goldman Sachs Group restated a “buy” rating and set a $190.00 target price on shares of Fortinet in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Evercore set a $165.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Finally, TD Cowen reissued a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $150.91.

Fortinet 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.