Mirae Asset Global Investments Co. Ltd. Grows Stake in Fortinet, Inc. $FTNT

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 15.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 327,073 shares of the software maker’s stock after buying an additional 44,409 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Fortinet were worth $27,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Balboa Wealth Partners increased its position in Fortinet by 4.3% during the 2nd quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock valued at $246,000 after purchasing an additional 96 shares during the period. Hemington Wealth Management boosted its stake in shares of Fortinet by 13.2% during the 2nd quarter. Hemington Wealth Management now owns 851 shares of the software maker’s stock valued at $89,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Fortinet by 3.6% during the second quarter. Trust Co. of Vermont now owns 2,852 shares of the software maker’s stock valued at $302,000 after buying an additional 100 shares during the period. Board of the Pension Protection Fund raised its stake in Fortinet by 4.5% in the second quarter. Board of the Pension Protection Fund now owns 2,300 shares of the software maker’s stock worth $243,000 after buying an additional 100 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in Fortinet by 41.4% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock worth $38,000 after buying an additional 104 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $81.51 on Friday. The business has a fifty day moving average price of $80.31 and a 200-day moving average price of $83.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94. The company has a market capitalization of $60.61 billion, a PE ratio of 33.54, a PEG ratio of 2.86 and a beta of 1.07. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. Fortinet’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, equities analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group cut their price objective on Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. Truist Financial set a $88.00 price objective on Fortinet in a research report on Tuesday, January 20th. Daiwa Capital Markets cut shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 target price on the stock. in a report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $75.00 price target (down from $85.00) on shares of Fortinet in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.59.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded FTNT to Buy and called the valuation reasonable, citing stable channel checks and keeping a $100 target — a bullish catalyst that has supported the stock and helped sector momentum. TD Cowen Calls Fortinet’s Valuation Reasonable
• Positive Sentiment: Rosenblatt upgraded Fortinet from Neutral to Buy and raised its price target to $100, signaling additional analyst support and potential upside if sentiment persists. Rosenblatt Upgrade (Benzinga)
• Positive Sentiment: Market commentary points to Fortinet’s upgrade as a positive sector signal — the TD Cowen lift earlier helped buoy cybersecurity peers, suggesting Fortinet’s bullish coverage can have broader market impact. Did a Fortinet Upgrade Put a Floor on CRWD Stock?
• Neutral Sentiment: Analysts and write-ups are evaluating Fortinet’s Unified Cloud‑Risk platform and strategy; the long-term moat may strengthen if product adoption accelerates, but measurable near-term revenue/leverage impacts are unclear. Will Fortinet’s Unified Cloud‑Risk Platform Deepen Its Competitive Moat?
• Neutral Sentiment: Reminder: Fortinet is projected to report earnings next week — that timing is the immediate catalyst; guidance and subscription growth details will likely drive any near‑term move. Fortinet Projected to Post Earnings
• Neutral Sentiment: Short‑interest data reported appears anomalous (shows zero shares), implying no clear short‑pressure signal to explain stock movement; treat this item as noise until cleaner data appears.
• Negative Sentiment: Zacks’ preview argues Fortinet lacks the combination of factors that typically produce an earnings beat, which raises the risk of downside if results or guidance disappoint next week. Fortinet Reports Next Week: What You Should Expect (Zacks)

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total value of $306,835.38. Following the completion of the sale, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.51, for a total value of $13,710,537.35. Following the transaction, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by company insiders.

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.