Illinois Municipal Retirement Fund Buys 7,544 Shares of Fortinet, Inc. $FTNT

Illinois Municipal Retirement Fund grew its position in Fortinet, Inc. (NASDAQ:FTNT) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 125,712 shares of the software maker’s stock after purchasing an additional 7,544 shares during the period. Illinois Municipal Retirement Fund’s holdings in Fortinet were worth $10,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FTNT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Fortinet by 6.8% in the 2nd 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 acquired a new position in shares of Fortinet in the third quarter valued at about $2,034,000. Asset Management One Co. Ltd. grew its position in Fortinet by 4.7% during 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 in the last quarter. Warther Private Wealth LLC lifted its position in Fortinet by 39.7% during the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock worth $19,258,000 after purchasing an additional 51,750 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Fortinet by 465.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock valued at $64,255,000 after acquiring an additional 622,809 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 343,106 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 $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 17.20% of the company’s stock.

Fortinet Stock Down 4.1%

FTNT stock opened at $84.26 on Friday. The company’s 50 day moving average is $80.59 and its 200 day moving average is $82.35. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a market cap of $62.66 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 3.03 and a beta of 1.06. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82.

Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, February 5th. The software maker reported $0.81 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 company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $0.74 EPS. The firm’s quarterly revenue 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. Sell-side analysts predict that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of research reports. Rosenblatt Securities boosted their target price on shares of Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 6th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, January 23rd. Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Sanford C. Bernstein reiterated a “market perform” rating and set a $83.00 price target on shares of Fortinet in a report on Friday, February 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.07.

About Fortinet

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.