Quantitative Investment Management LLC Raises Stake in Fortinet, Inc. $FTNT

Quantitative Investment Management LLC raised its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 580.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,395 shares of the software maker’s stock after acquiring an additional 30,191 shares during the period. Quantitative Investment Management LLC’s holdings in Fortinet were worth $2,976,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. L2 Asset Management LLC boosted its stake in shares of Fortinet by 5.1% in the 2nd quarter. L2 Asset Management LLC now owns 2,847 shares of the software maker’s stock valued at $301,000 after purchasing an additional 137 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Fortinet by 40.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 481 shares of the software maker’s stock valued at $40,000 after purchasing an additional 139 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Fortinet by 11.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,410 shares of the software maker’s stock worth $149,000 after purchasing an additional 144 shares during the period. Fiduciary Alliance LLC lifted its stake in Fortinet by 3.0% in the third quarter. Fiduciary Alliance LLC now owns 5,093 shares of the software maker’s stock worth $428,000 after purchasing an additional 147 shares during the last quarter. Finally, Empirical Finance LLC lifted its stake in Fortinet by 0.7% in the second quarter. Empirical Finance LLC now owns 21,936 shares of the software maker’s stock worth $2,319,000 after purchasing an additional 148 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $84.40 on Friday. The company has a market cap of $62.45 billion, a price-to-earnings ratio of 34.73, a price-to-earnings-growth ratio of 2.88 and a beta of 1.05. The company has a 50-day moving average price of $80.55 and a 200-day moving average price of $81.62. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33.

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

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 175,737 shares of the business’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 $14,308,506.54. Following the transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Xie sold 343,106 shares of the company’s 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 $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Fortinet in a research note on Thursday. Wells Fargo & Company initiated coverage on Fortinet in a research note on Tuesday, March 3rd. They issued an “underweight” rating and a $64.00 target price for the company. TD Cowen upgraded Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, January 23rd. Citigroup restated a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Monday, February 9th. Finally, Freedom Capital cut Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $88.62.

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.