12,458 Shares in Fortinet, Inc. $FTNT Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,458 shares of the software maker’s stock, valued at approximately $1,047,000.

Several other institutional investors also recently made changes to their positions in the stock. LSV Asset Management purchased a new position in shares of Fortinet in the 2nd quarter worth $25,000. Financial Consulate Inc. acquired a new stake in Fortinet during the third quarter worth about $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet during the third quarter worth about $25,000. SJS Investment Consulting Inc. raised its holdings in shares of Fortinet by 1,556.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after purchasing an additional 358 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Fortinet by 41.4% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock valued at $38,000 after purchasing an additional 104 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research report on Thursday, November 6th. TD Cowen upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday. Robert W. Baird cut their target price on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (up previously from $85.00) on shares of Fortinet in a report on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $90.04.

Fortinet Price Performance

FTNT opened at $81.64 on Friday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The firm has a market cap of $60.71 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $80.14 and a 200 day simple moving average of $84.32.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business 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. Equities research analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insider Transactions at Fortinet

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

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded Fortinet to Buy and set a $100 price target, arguing AI risks are overstated and forecasting stronger billings into 2026 — this is the principal catalyst for today’s rally. Fortinet Is Top S&P 500 Stock After Upgrade. Don’t Worry About ‘AI Eating Software.
• Positive Sentiment: TD Cowen’s upgrade was backed by “solid checks” from the field, per reports, giving the call more credibility and suggesting demand/billings data corroborate the upbeat view. Fortinet in focus as TD Cowen upgrades on back of ‘solid checks’
• Positive Sentiment: Multiple outlets note a five‑star analyst upgrade to Buy (TipRanks/Benzinga coverage), lifting investor attention and trading volume — momentum and analyst conviction are reinforcing the move. Fortinet Stock (FTNT) Surges after Five-Star Analyst Upgrades to Buy Rating
• Positive Sentiment: Coverage summaries and quick news pieces (e.g., Benzinga/Yahoo) are amplifying the upgrade narrative, attracting short-term traders and contributing to above-average volume. Tesla removes Autopilot software, Fortinet upgraded to Buy
• Neutral Sentiment: Fortinet is appearing among intraday Nasdaq gainers and tech/AI rotation lists — helpful context for momentum but not a fundamental change. Live Nasdaq Composite: Market Mettle Tested in Whipsaw Week
• Neutral Sentiment: Industry/ETF commentary highlights Fortinet’s role in cloud and security ETFs — may attract passive inflows over time but is not an immediate catalyst. Fortinet (NASDAQ:FTNT) Nasdaq Composite ETF Cloud Security Reach

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.