E Fund Management Co. Ltd. Acquires New Position in Fortinet, Inc. $FTNT

Key Points

• E Fund Management acquired 42,599 Fortinet shares during the second quarter, valued at approximately $6.54 million. Institutional investors collectively own 83.71% of the company.
• Fortinet reported quarterly earnings of $0.90 per share and revenue of $2.05 billion, exceeding analyst expectations; revenue increased 25.6% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $150.91, while Fortinet shares recently traded at $152.85. Insiders sold roughly $50.7 million in stock over the past three months, primarily through pre-arranged plans.

E Fund Management Co. Ltd. bought a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 42,599 shares of the software maker's stock, valued at approximately $6,544,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FTNT. Elevation Wealth Partners LLC raised its stake in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker's stock worth $33,000 after buying an additional 75 shares in the last quarter. Florida Financial Advisors LLC boosted its stake in Fortinet by 3.0% during the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker's stock valued at $309,000 after buying an additional 109 shares in the last quarter. Optimist Retirement Group LLC boosted its stake in Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock valued at $398,000 after buying an additional 122 shares in the last quarter. GW&K Investment Management LLC grew its stake in shares of Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker's stock worth $41,000 after purchasing an additional 123 shares during the last quarter. Finally, Delta Investment Management LLC increased its holdings in shares of Fortinet by 2.4% in the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker's stock valued at $417,000 after buying an additional 125 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Down 3.3%

Shares of NASDAQ FTNT opened at $152.85 on Thursday. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $172.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The business has a fifty day moving average of $155.98 and a two-hundred day moving average of $116.87. The stock has a market cap of $112.15 billion, a PE ratio of 53.82, a PEG ratio of 3.00 and a beta of 1.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company's revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities research analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Evercore set a $165.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Susquehanna boosted their target price on shares of Fortinet from $115.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Bank of America restated a "buy" rating on shares of Fortinet in a report on Monday, July 27th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $190.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Finally, BMO Capital Markets lifted their price target on shares of Fortinet from $170.00 to $185.00 and gave the company a "market perform" rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Fortinet presently has a consensus rating of "Hold" and a consensus target price of $150.91.

Insider Activity

In other Fortinet news, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 329,142 shares of company stock worth $50,731,178 in the last three months. Insiders own 17.60% 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.

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