Groupama Asset Managment Invests $1.94 Million in Fortinet, Inc. $FTNT

Key Points

• Groupama Asset Management purchased 23,701 Fortinet shares worth approximately $1.94 million, while institutional investors collectively own 83.71% of the company.
• Fortinet reported strong quarterly results, with EPS of $0.90 beating estimates by $0.15 and revenue rising 25.6% year over year to $2.05 billion. Management also raised its full-year 2026 revenue outlook, supported by demand for AI-security, SASE and other cybersecurity offerings.
• Analyst views remain mixed: the consensus rating is Hold with a $150.91 target price, while some firms raised targets as high as $215. Shares trade near their 52-week high at a valuation of roughly 57 times earnings, presenting a potential valuation risk.

Groupama Asset Managment purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 23,701 shares of the software maker's stock, valued at approximately $1,937,000.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker's stock valued at $976,000 after buying an additional 221 shares during the period. Bison Wealth LLC purchased a new stake in shares of Fortinet during the 4th quarter valued at approximately $585,000. HUB Investment Partners LLC raised its position in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker's stock valued at $560,000 after buying an additional 1,193 shares during the period. Diversify Advisory Services LLC acquired a new position in Fortinet in the second quarter valued at approximately $1,136,000. Finally, Quantinno Capital Management LP lifted its holdings in Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker's stock valued at $15,328,000 after acquiring an additional 31,202 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho set a $125.00 target price on Fortinet and gave the stock an "underperform" rating in a research note on Wednesday, July 15th. Scotiabank reaffirmed a "sector perform" rating and issued a $163.00 price target on shares of Fortinet in a research note on Thursday. TD Cowen reiterated a "buy" rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. HC Wainwright restated a "buy" rating on shares of Fortinet in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $185.00 target price (up from $165.00) on shares of Fortinet in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $150.91.

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of Fortinet 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 transaction, the vice president directly owned 9,923,610 shares of the company's stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This trade represents 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. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last three months. 17.60% of the stock is owned by company insiders.

Fortinet Stock Up 5.0%

NASDAQ:FTNT opened at $161.95 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The stock's fifty day moving average is $150.50 and its two-hundred day moving average is $109.09. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The stock has a market capitalization of $118.65 billion, a price-to-earnings ratio of 57.02, a price-to-earnings-growth ratio of 4.37 and a beta of 1.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company's quarterly revenue was up 25.6% on a year-over-year basis. During the same period 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. Research analysts anticipate that Fortinet, Inc. will post 2.82 EPS for the current year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong Q2 results: Fortinet reported earnings of $0.90 per share versus the $0.75 consensus estimate, while revenue rose 25.6% year over year to $2.05 billion, above the $1.89 billion forecast. Product revenue reportedly increased 52%, and billings climbed 33% to $2.37 billion. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Guidance raised: Management lifted its full-year 2026 revenue outlook, signaling confidence that enterprise spending on security will remain strong amid rising data-security incidents. Analysts also highlighted pricing strength and solid execution. Fortinet raises revenue outlook after strong Q2 and new AI product push
• Positive Sentiment: AI and platform momentum: Demand for Fortinet’s AI-security offerings, SASE Firewall, security platforms and operational-technology products is providing additional growth catalysts as companies expand AI infrastructure. FTNT Q2 earnings call highlights SASE Firewall growth
• Positive Sentiment: Analyst target increases: Rosenblatt raised its target to $195 and BTIG raised its target to $203, both with Buy ratings. Citigroup also increased its target to $185, reinforcing the favorable near-term reaction to the earnings report. Analysts boost forecasts following upbeat Q2 earnings
• Neutral Sentiment: Susquehanna raised its target to $160 but retained a Neutral rating, while William Blair maintained a Hold rating, citing questions about how durable Fortinet’s pricing and growth advantages will be.
• Negative Sentiment: Valuation remains a risk after the stock’s substantial multiyear gain. At roughly 57 times earnings, shares may already reflect considerable optimism, leaving less room for disappointment. Fortinet stock seems stretched following its five-year run

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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