Andra AP fonden Has $36.25 Million Position in Fortinet, Inc. $FTNT

Andra AP fonden lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 3.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 431,120 shares of the software maker’s stock after buying an additional 12,500 shares during the quarter. Andra AP fonden’s holdings in Fortinet were worth $36,249,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FTNT. GPS Wealth Strategies Group LLC increased its position in Fortinet by 3.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,391 shares of the software maker’s stock valued at $358,000 after acquiring an additional 108 shares in the last quarter. Huntington National Bank grew its stake in shares of Fortinet by 0.7% during the second quarter. Huntington National Bank now owns 16,596 shares of the software maker’s stock valued at $1,755,000 after purchasing an additional 112 shares during the last quarter. L2 Asset Management LLC increased its holdings in shares of Fortinet by 5.1% in the second quarter. L2 Asset Management LLC now owns 2,847 shares of the software maker’s stock valued at $301,000 after purchasing an additional 137 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Fortinet by 40.6% in the third quarter. Meeder Asset Management Inc. now owns 481 shares of the software maker’s stock valued at $40,000 after purchasing an additional 139 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in Fortinet by 11.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,410 shares of the software maker’s stock worth $149,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Up 2.4%

Shares of Fortinet stock opened at $79.20 on Friday. The company has a market capitalization of $58.90 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The business has a 50-day moving average of $80.17 and a two-hundred day moving average of $81.33. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $111.31.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping 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 the consensus estimate of $1.86 billion. During the same period last year, the company posted $0.74 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. As a group, equities analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on FTNT. Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. HSBC lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Mizuho upped their target price on shares of Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research report on Friday, February 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research note on Friday, February 6th. Finally, TD Cowen upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and an average price target of $89.42.

Insiders Place Their Bets

In related news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction 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 sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the company’s stock in a transaction 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. The trade was a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.

Fortinet 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.