Bell Bank Acquires 11,118 Shares of Fortinet, Inc. $FTNT

Bell Bank grew its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 93.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,014 shares of the software maker’s stock after acquiring an additional 11,118 shares during the period. Bell Bank’s holdings in Fortinet were worth $1,828,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FTNT. Allstate Corp bought a new stake in shares of Fortinet during the 3rd quarter valued at about $2,034,000. Asset Management One Co. Ltd. increased its position in shares of Fortinet by 4.7% during the third quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock valued at $33,824,000 after buying an additional 17,892 shares during the period. Wealth Enhancement Advisory Services LLC raised 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 worth $64,255,000 after buying an additional 622,809 shares in the last quarter. Machina Capital S.A.S. bought a new position in Fortinet in the third quarter worth about $1,177,000. Finally, Victory Capital Management Inc. lifted its holdings in Fortinet by 5.8% in the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock worth $138,874,000 after buying an additional 90,284 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction on 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 completion of the transaction, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial set a $88.00 price objective on Fortinet in a research report on Tuesday, January 20th. Mizuho raised their target price on Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research note on Friday, February 6th. Citigroup restated a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Monday, February 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price target (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. Finally, Stifel Nicolaus set a $85.00 price objective on Fortinet in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $88.62.

Fortinet Price Performance

Shares of FTNT opened at $78.20 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $109.33. The firm’s 50-day simple moving average is $81.41 and its two-hundred day simple moving average is $81.91. The stock has a market cap of $57.86 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 2.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17.

Fortinet (NASDAQ:FTNT) last released its earnings results 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. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

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.