Mitsubishi UFJ Trust & Banking Corp Reduces Stake in Fortinet, Inc. $FTNT

by · The Cerbat Gem

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 38.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 767,758 shares of the software maker’s stock after selling 484,204 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.10% of Fortinet worth $60,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Consulate Inc. purchased a new stake in shares of Fortinet in the 3rd quarter worth approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new position in Fortinet during the 3rd quarter valued at about $25,000. Pinnacle Holdings LLC acquired a new position in shares of Fortinet during the third quarter valued at about $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet in the third quarter worth $25,000. Finally, Wexford Capital LP purchased a new position in Fortinet in the 3rd quarter worth $25,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on FTNT shares. Robert W. Baird set a $90.00 target price on Fortinet in a research note on Friday, February 6th. Freedom Capital cut Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. TD Cowen raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday, January 23rd. Weiss Ratings upgraded Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Finally, Barclays set a $88.00 price target on shares of Fortinet in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $87.72.

Check Out Our Latest Report on Fortinet

Insider Activity

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 sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 18.00% of the stock is owned by company insiders.

Fortinet Stock Performance

Shares of FTNT opened at $85.72 on Wednesday. The stock has a 50 day moving average price of $81.67 and a 200 day moving average price of $81.69. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $109.33. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $63.43 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 2.94 and a beta of 1.00.

Fortinet (NASDAQ:FTNT – Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.74 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Research analysts predict that Fortinet, Inc. will post 2.63 EPS for the current fiscal year.

Fortinet Company Profile

(Free Report)

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.

See Also

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