Impax Asset Management Group plc Takes $1.06 Million Position in Fortinet, Inc. $FTNT

Key Points

• Impax Asset Management bought a new stake of 13,327 Fortinet shares in Q4 worth about $1.06 million, and institutional investors own roughly 83.71% of the company.
• Significant insider sales occurred on Feb 2: CEO Ken Xie sold 175,737 shares (~$14.31M) and VP Michael Xie sold 343,106 shares (~$27.94M); insiders still own about 17.20% of the stock.
• Q4 results and outlook: Fortinet beat estimates with $0.81 EPS and $1.91B revenue, provided Q1 2026 guidance of $0.59–0.63 EPS and FY2026 of $2.94–3.00 EPS, while analysts carry a consensus "Hold" rating with a $87.04 price target.

Impax Asset Management Group plc bought a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,327 shares of the software maker's stock, valued at approximately $1,058,000.

Several other institutional investors have also modified their holdings of FTNT. Pinnacle Holdings LLC purchased a new position in shares of Fortinet in the third quarter worth about $25,000. Financial Consulate Inc. purchased a new position in shares of Fortinet in the third quarter worth about $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Fortinet in the third quarter worth about $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet in the third quarter worth about $25,000. Finally, Wexford Capital LP purchased a new position in shares of Fortinet in the third quarter worth about $25,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the transaction, the chief executive officer directly owned 51,396,385 shares of the company's stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated 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 transaction, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Evercore set a $80.00 price target on shares of Fortinet in a research note on Friday, February 6th. BMO Capital Markets raised their price target on shares of Fortinet from $90.00 to $95.00 and gave the stock a "market perform" rating in a research note on Monday, February 9th. TD Cowen raised shares of Fortinet from a "hold" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Friday, January 23rd. Mizuho decreased their price target on shares of Fortinet from $74.00 to $70.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. Finally, Weiss Ratings raised shares of Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday. Five research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $87.04.

Fortinet Price Performance

Shares of FTNT stock opened at $84.37 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The firm's 50-day moving average is $81.59 and its two-hundred day moving average is $81.71. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33. The company has a market capitalization of $62.43 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 2.84 and a beta of 1.00.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its 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 company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. 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. Analysts predict that Fortinet, Inc. will post 2.63 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.