Fortinet, Inc. $FTNT Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 62.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,564,558 shares of the software maker’s stock after purchasing an additional 2,132,109 shares during the quarter. Van ECK Associates Corp owned approximately 0.75% of Fortinet worth $467,868,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares during the period. State Street Corp boosted its stake in Fortinet by 3.0% in the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after acquiring an additional 862,468 shares during the period. Geode Capital Management LLC boosted its stake in Fortinet by 5.2% in the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after acquiring an additional 828,569 shares during the period. Norges Bank bought a new position in shares of Fortinet during the second quarter valued at approximately $1,640,900,000. Finally, Invesco Ltd. raised its position in shares of Fortinet by 7.9% during the 2nd quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock worth $977,718,000 after purchasing an additional 677,654 shares during the period. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

FTNT stock opened at $83.81 on Tuesday. The company has a 50-day simple moving average of $80.29 and a 200 day simple moving average of $81.55. The company has a market capitalization of $62.01 billion, a P/E ratio of 34.49, a PEG ratio of 2.89 and a beta of 1.05. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $109.33.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FTNT. Freedom Capital downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Mizuho upped their price target on shares of Fortinet from $72.00 to $74.00 and gave the stock an “underperform” rating in a research report on Friday, February 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $83.00 price objective on shares of Fortinet in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. Finally, Truist Financial set a $88.00 target price on shares of Fortinet in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $88.62.

Insiders Place Their Bets

In related news, 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 transaction of $27,935,690.52. Following the transaction, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ken Xie sold 175,737 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 $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 18.00% of the company’s stock.

Fortinet Company 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.