Fortinet, Inc. $FTNT Shares Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 34.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 283,549 shares of the software maker’s stock after acquiring an additional 72,289 shares during the period. Mediolanum International Funds Ltd’s holdings in Fortinet were worth $24,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTNT. Brighton Jones LLC grew its position in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares during the last quarter. Bison Wealth LLC purchased a new position in Fortinet during the 4th quarter worth $585,000. Janney Montgomery Scott LLC lifted its stake in shares of Fortinet by 0.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 122,246 shares of the software maker’s stock worth $12,924,000 after acquiring an additional 599 shares during the period. Truist Financial Corp boosted its holdings in shares of Fortinet by 6.2% in the second quarter. Truist Financial Corp now owns 44,567 shares of the software maker’s stock valued at $4,712,000 after acquiring an additional 2,596 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in shares of Fortinet during the second quarter worth about $222,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays reduced their price objective on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. decreased their price target on Fortinet from $75.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday. Piper Sandler reaffirmed a “neutral” rating and set a $90.00 price objective (up previously from $85.00) on shares of Fortinet in a report on Monday, January 5th. Citigroup reissued a “neutral” rating and issued a $85.00 target price (up previously from $83.00) on shares of Fortinet in a report on Monday, January 12th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average price target of $90.48.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $81.26 on Friday. 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’s 50-day moving average price is $80.36 and its 200 day moving average price is $83.58. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The stock has a market cap of $60.43 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.84 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. 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, research analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt upgraded FTNT to a Buy and raised its price target to $100 (from $85), a bullish endorsement that can support share gains. Read More.
• Positive Sentiment: TD Cowen upgraded FTNT to Buy (PT $100) and called the valuation reasonable after channel checks showed stability — an influential bank upgrade that likely boosted buying interest. Read More.
• Positive Sentiment: Fortinet announced a FortiCNAPP upgrade emphasizing tighter cloud security integration and investor-focused messaging on cloud risk management — product progress that supports the company’s platform story and competitive moat. Read More.
• Positive Sentiment: Sector lift: coverage of Fortinet’s upgrades has helped buoy cybersecurity peers (e.g., CrowdStrike), indicating the upgrade-driven sentiment is spilling across the group and can provide additional support to FTNT. Read More.
• Neutral Sentiment: Elevated investor interest/search activity around FTNT signals heightened attention and liquidity, which can amplify moves in either direction depending on news flow. Read More.
• Neutral Sentiment: Multiple pieces profile Fortinet’s unified cloud-risk platform and longer-term moat — constructive for medium-term growth expectations but not an immediate earnings catalyst. Read More.
• Negative Sentiment: Zacks preview warns Fortinet lacks the setup for a likely earnings beat next week — this raises downside risk into the print and helps explain intraday pullbacks despite the bullish headlines. Read More.
• Neutral Sentiment: Scheduled earnings coverage and media previews mean volatility is likely until results/guidance are released — traders should watch the upcoming report for guidance vs. consensus. Read More.

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.