Public Employees Retirement System of Ohio Has $21.15 Million Stock Position in Fortinet, Inc. $FTNT

Public Employees Retirement System of Ohio reduced its stake in Fortinet, Inc. (NASDAQ:FTNT) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 258,783 shares of the software maker’s stock after selling 7,830 shares during the period. Public Employees Retirement System of Ohio’s holdings in Fortinet were worth $21,148,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its holdings in Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after buying an additional 477,397 shares during the last quarter. Norges Bank acquired a new position in shares of Fortinet during the 4th quarter worth about $1,152,917,000. Bank of New York Mellon Corp increased its stake in shares of Fortinet by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after acquiring an additional 893,190 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Fortinet by 45.5% in the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after acquiring an additional 3,598,487 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Up 0.5%

Shares of FTNT stock opened at $152.37 on Friday. The firm has a fifty day moving average of $148.02 and a 200-day moving average of $106.45. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $170.35. The company has a market capitalization of $111.63 billion, a price-to-earnings ratio of 58.83, a P/E/G ratio of 4.14 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, equities research analysts predict that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 318,387 shares of company stock valued at $43,403,063 over the last three months. Company insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Arete Research set a $104.00 price objective on shares of Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. DZ Bank lowered shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, May 19th. BMO Capital Markets lifted their price target on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen cut shares of Fortinet from a “buy” rating to a “hold” rating in a research report on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $123.61.

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.