Fortinet, Inc. $FTNT Position Trimmed by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 4.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,150,161 shares of the software maker’s stock after selling 51,764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fortinet were worth $91,334,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp lifted its position in Fortinet by 62.1% in the 3rd quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after buying an additional 2,132,109 shares in the last quarter. First Trust Advisors LP lifted its position in Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Fortinet by 23.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock valued at $430,082,000 after buying an additional 969,899 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FTNT shares. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Wells Fargo & Company started coverage on Fortinet in a research report on Tuesday, March 3rd. They set an “underweight” rating and a $64.00 price objective for the company. Oppenheimer restated a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Jefferies Financial Group set a $90.00 target price on Fortinet in a research report on Friday, February 6th. Finally, Citigroup reaffirmed a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. Five research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and an average price target of $87.68.

Check Out Our Latest Research Report on Fortinet

Fortinet Stock Performance

Shares of FTNT stock opened at $81.84 on Monday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month 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 business’s 50 day moving average is $81.73 and its two-hundred day moving average is $81.73. The company has a market cap of $60.56 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 2.81 and a beta of 1.00.

Fortinet (NASDAQ:FTNT – Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. Fortinet’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Equities analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the sale, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the transaction, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 18.00% of the company’s stock.

About Fortinet

(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.

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