Meiji Yasuda Asset Management Co Ltd. Lowers Stake in Fortinet, Inc. $FTNT

Meiji Yasuda Asset Management Co Ltd. reduced its position in Fortinet, Inc. (NASDAQ:FTNT) by 77.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,665 shares of the software maker’s stock after selling 22,696 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Fortinet were worth $560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after buying an additional 2,894,355 shares in the last quarter. State Street Corp increased its stake in Fortinet by 3.0% in the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock worth $3,085,244,000 after buying an additional 862,468 shares in the last quarter. Geode Capital Management LLC increased its stake in Fortinet by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock worth $1,783,091,000 after buying an additional 828,569 shares in the last quarter. Norges Bank bought a new stake in Fortinet during the second quarter valued at about $1,640,900,000. Finally, Invesco Ltd. raised its holdings in Fortinet by 7.9% during the second quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock valued at $977,718,000 after acquiring an additional 677,654 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Insider Activity at Fortinet

In other news, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was 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 represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 18.00% of the stock is owned by corporate insiders.

Fortinet Trading Up 0.2%

Shares of FTNT stock opened at $83.81 on Tuesday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $109.33. 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’s 50-day moving average price is $80.29 and its 200-day moving average price is $81.55. The stock has a market capitalization of $62.01 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Equities research analysts predict that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FTNT shares. Mizuho upped their price objective on Fortinet from $72.00 to $74.00 and gave the stock an “underperform” rating in a research note on Friday, February 6th. Morgan Stanley reissued an “underweight” rating and set a $70.00 target price (up from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a report on Monday, November 24th. JPMorgan Chase & Co. upped their price target on Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, February 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Fortinet in a report on Friday, February 6th. One equities research 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.62.

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.