Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 1,600,783 Fortinet, Inc. $FTNT

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, Holdings Channel reports. The institutional investor acquired 1,600,783 shares of the software maker’s stock, valued at approximately $245,912,000.

A number of other large investors have also recently made changes to their positions in FTNT. Physician Wealth Advisors Inc. raised its position 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 valued at $25,000 after buying an additional 245 shares in the last quarter. Wexford Capital LP purchased a new position in Fortinet in the third quarter worth about $25,000. Elyxium Wealth LLC purchased a new position in Fortinet in the fourth quarter worth about $27,000. Palisade Asset Management LLC bought a new stake in Fortinet during the third quarter worth approximately $28,000. Finally, Ares Financial Consulting LLC bought a new stake in Fortinet during the fourth quarter worth approximately $29,000. 83.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FTNT. UBS Group reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Mizuho set a $125.00 target price on Fortinet and gave the company an “underperform” rating in a research report on Wednesday, July 15th. Robert W. Baird set a $165.00 price target on Fortinet in a report on Thursday, July 30th. Citigroup raised their price target on Fortinet from $165.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley reaffirmed a “positive” rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average target price of $150.91.

Fortinet Trading Down 2.6%

FTNT stock opened at $155.85 on Tuesday. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09. The firm’s 50-day moving average is $155.31 and its 200 day moving average is $115.83. The company has a market capitalization of $114.35 billion, a PE ratio of 54.88, a P/E/G ratio of 3.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. 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, research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders sold 475,157 shares of company stock worth $69,480,964. Company insiders own 17.60% 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.