Boston Trust Walden Corp Has $30.02 Million Holdings in Fortinet, Inc. $FTNT

Key Points

• Boston Trust Walden Corp raised its stake in Fortinet by 4.1% to 378,046 shares, worth about $30.02 million at the end of the quarter.
• Fortinet beat Q4 expectations with EPS of $0.81 vs. $0.74 and revenue of $1.91 billion (up 14.8% YoY), and set Q1 2026 guidance of $0.590–0.630 and FY2026 guidance of $2.940–3.000 EPS.
• Company insiders sold large blocks on Feb 2 (Michael Xie 343,106 shares; Ken Xie 175,737 shares), though insiders still hold 17.20% of shares and institutional investors own 83.71%.

Boston Trust Walden Corp increased its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 378,046 shares of the software maker's stock after acquiring an additional 14,866 shares during the period. Boston Trust Walden Corp owned about 0.05% of Fortinet worth $30,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker's stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares during the last quarter. State Street Corp raised its holdings in shares of Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker's stock worth $2,493,860,000 after acquiring an additional 477,397 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker's stock worth $909,453,000 after acquiring an additional 1,568,337 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker's stock worth $636,962,000 after acquiring an additional 1,790,033 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Fortinet by 2.9% in the 3rd quarter. Nordea Investment Management AB now owns 6,922,031 shares of the software maker's stock worth $586,781,000 after acquiring an additional 195,896 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Trading Up 2.1%

Shares of FTNT stock opened at $87.09 on Thursday. The company has a 50 day moving average of $81.64 and a 200-day moving average of $81.74. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $109.33. The firm has a market cap of $64.44 billion, a P/E ratio of 35.84, a PEG ratio of 2.93 and a beta of 1.00.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (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 company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $0.74 EPS. Fortinet'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 anticipate that Fortinet, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Fortinet

In other news, 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 transaction of $27,935,690.52. Following the completion of the sale, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. This trade represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $14,308,506.54. Following the sale, the chief executive officer 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 17.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada restated a "sector perform" rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Friday, February 6th. UBS Group reiterated a "neutral" rating and issued a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Wells Fargo & Company started coverage on shares of Fortinet in a research note on Tuesday, March 3rd. They issued an "underweight" rating and a $64.00 price objective for the company. Rosenblatt Securities increased their price objective on shares of Fortinet from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, February 6th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 price objective on shares of Fortinet in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $87.04.

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.

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