Dimensional Fund Advisors LP Grows Position in Fortinet, Inc. $FTNT

Key Points

• Dimensional Fund Advisors increased its stake in Fortinet by 28.7% in Q3 to 3,846,164 shares (about $323.4M), representing roughly 0.50% of the company.
• Fortinet beat Q4 expectations with EPS $0.81 vs. $0.74 and revenue $1.91B (up 14.8% YoY), and gave Q1 2026 EPS guidance of $0.59–$0.63 and FY2026 guidance of $2.94–$3.00.
• Insiders Michael Xie and CEO Ken Xie sold 343,106 and 175,737 shares respectively (about $27.9M and $14.3M) on Feb 2, though insiders still own ~17.2% and institutions own ~83.7% of the stock.

Dimensional Fund Advisors LP raised its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 28.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,846,164 shares of the software maker's stock after acquiring an additional 858,723 shares during the period. Dimensional Fund Advisors LP owned approximately 0.50% of Fortinet worth $323,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FTNT. LSV Asset Management purchased a new stake in Fortinet during the second quarter valued at $25,000. Financial Consulate Inc. bought a new stake in shares of Fortinet in the 3rd quarter worth about $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Fortinet in the 3rd quarter worth about $25,000. Pinnacle Holdings LLC purchased a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Fortinet by 1,556.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker's stock valued at $32,000 after acquiring an additional 358 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Michael Xie sold 343,106 shares of Fortinet 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 of the company's stock, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 17.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FTNT. Piper Sandler restated a "neutral" rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Scotiabank lowered Fortinet from a "sector outperform" rating to a "sector perform" rating and set a $85.00 price target on the stock. in a report on Monday, February 2nd. Wells Fargo & Company began coverage on Fortinet in a research report on Tuesday. They issued an "underweight" rating and a $64.00 price target for the company. Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Fortinet from $72.00 to $73.00 and gave the company an "underweight" rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $88.62.

Fortinet Stock Performance

FTNT stock opened at $84.42 on Friday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $109.33. The firm has a market cap of $62.46 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 2.86 and a beta of 1.05. The business's fifty day simple moving average is $80.19 and its two-hundred day simple moving average is $81.46. 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 (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates 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 period in the prior year, the business posted $0.74 earnings per share. The business's revenue for the quarter 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. Analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

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.

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