The Manufacturers Life Insurance Company Takes $49.79 Million Position in Fortinet, Inc. $FTNT

The Manufacturers Life Insurance Company acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 324,095 shares of the software maker’s stock, valued at approximately $49,790,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its position in shares of Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 245 shares during the period. Dunhill Financial LLC purchased a new stake in shares of Fortinet in the 2nd quarter valued at $25,000. Burk Holdings LLC purchased a new stake in shares of Fortinet in the 2nd quarter valued at $25,000. Wexford Capital LP acquired a new position in Fortinet during the 3rd quarter worth about $25,000. Finally, Elyxium Wealth LLC acquired a new position in Fortinet during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating on shares of Fortinet in a research report on Thursday, July 30th. Weiss Ratings cut shares of Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 20th. Wolfe Research set a $175.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Truist Financial set a $183.00 price objective on shares of Fortinet and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, 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 note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Fortinet currently has a consensus rating of “Hold” and an average target price of $150.91.

Fortinet Trading Up 2.5%

FTNT opened at $157.54 on Thursday. The business has a fifty day moving average price of $156.69 and a 200 day moving average price of $119.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09. The stock has a market capitalization of $115.59 billion, a price-to-earnings ratio of 55.47, a PEG ratio of 2.91 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.Fortinet’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% decrease in their position. 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. In the last ninety days, insiders sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is owned by corporate 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.