4,506 Shares in Fortinet, Inc. $FTNT Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,506 shares of the software maker’s stock, valued at approximately $692,000.

Other institutional investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. raised its stake in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 245 shares in the last quarter. Dunhill Financial LLC acquired a new stake in shares of Fortinet in the 2nd quarter valued at approximately $25,000. Burk Holdings LLC purchased a new stake in shares of Fortinet in the second quarter valued at approximately $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet in the third quarter valued at approximately $25,000. Finally, Elyxium Wealth LLC acquired a new position in Fortinet during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. The trade was 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 3,121 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were 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 in the company, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 quarter, insiders have sold 329,142 shares of company stock valued at $50,731,178. 17.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup increased their price objective on Fortinet from $165.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. UBS Group reissued a “neutral” rating and set a $180.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Bank of America restated a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Fortinet in a report on Monday. Finally, Wells Fargo & Company set a $135.00 price target on shares of Fortinet and gave the company an “underweight” rating in a research report on Thursday, July 30th. 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 given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $150.91.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $153.66 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The business’s fifty day moving average price is $156.42 and its two-hundred day moving average price is $118.89. The stock has a market cap of $112.74 billion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 2.88 and a beta of 1.07. Fortinet, Inc. has a one year low of $73.55 and a one year high of $172.09.

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

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.