ProShare Advisors LLC Increases Stake in Fortinet, Inc. $FTNT

ProShare Advisors LLC raised its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 64.8% in the third quarter, Holdings Channel reports. The firm owned 1,974,442 shares of the software maker’s stock after acquiring an additional 776,705 shares during the quarter. ProShare Advisors LLC’s holdings in Fortinet were worth $166,011,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Fortinet by 6.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock valued at $137,800,000 after acquiring an additional 82,937 shares during the period. Allstate Corp bought a new position in shares of Fortinet in the 3rd quarter worth approximately $2,034,000. Asset Management One Co. Ltd. boosted its holdings in shares of Fortinet by 4.7% in the third quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock worth $33,824,000 after buying an additional 17,892 shares during the last quarter. Warther Private Wealth LLC raised its position in Fortinet by 39.7% in the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock worth $19,258,000 after acquiring an additional 51,750 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fortinet by 465.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock worth $64,255,000 after acquiring an additional 622,809 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 beat and raised full‑year guidance — Fortinet reported Q4 revenue of $1.91B and EPS of $0.81 (above estimates) and issued FY‑2026 EPS guidance ahead of consensus; management highlighted strong enterprise demand. Read More.
• Positive Sentiment: Billings, product growth and Unified SASE strength — Billings rose ~18% (Unified SASE billings up ~40%) and product revenue grew double digits, underpinning revenue momentum. Read More.
• Positive Sentiment: Buyback expanded — company increased its buyback program by $1B to roughly $10.25B through Feb 2027, a shareholder‑friendly move that supports the stock. Read More.
• Positive Sentiment: Some bullish analyst action — Rosenblatt raised its target to $105 (buy), and Wedbush reaffirmed an outperform with a $90 target, giving upside voices amid mixed comments. Read More. • Read More.
• Neutral Sentiment: Primary disclosures and management commentary — full earnings call transcript and presentation are available for deeper read on cloud/SASE strategy and guidance detail. Read More. • Read More.
• Negative Sentiment: Analyst caution still present — JPMorgan and Mizuho raised price targets slightly but kept underweight/outperform/underperform stances that imply limited near‑term upside from some shops; Jefferies also remains cautious on 2026. Read More. • Read More. • Read More.
• Negative Sentiment: Insider selling — filings show large sales by the CEO and a VP, which may raise short‑term governance/flow concerns for some investors. Read More. • Read More.
• Neutral Sentiment: Street positioning mixed — some firms (Robert W. Baird, others) keep holds or reiterate neutral stances citing product strength offset by services slowdown or limited near‑term upside. Read More.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by insiders.

Fortinet Trading Up 4.9%

FTNT stock opened at $82.76 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The business has a 50 day simple moving average of $80.37 and a two-hundred day simple moving average of $82.57. The company has a market capitalization of $61.54 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.85 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup restated a “neutral” rating and issued a $85.00 price objective (up from $83.00) on shares of Fortinet in a research note on Monday, January 12th. Royal Bank Of Canada reissued a “sector perform” rating and set a $90.00 price target (up previously from $85.00) on shares of Fortinet in a report on Friday. Barclays set a $88.00 price objective on Fortinet in a research note on Tuesday, February 3rd. UBS Group reiterated a “neutral” rating and set a $90.00 price objective on shares of Fortinet in a research note on Friday. Finally, Morgan Stanley restated an “underweight” rating and set a $70.00 target price (up previously from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.46.

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.