Korea Investment CORP Has $36.09 Million Holdings in Fortinet, Inc. $FTNT

Key Points

• Korea Investment CORP trimmed its Fortinet stake by 5.9% in Q3, selling 26,928 shares and ending the period with 429,254 shares worth $36.09 million.
• Fortinet beat expectations in its most recent quarter with $0.81 EPS (vs. $0.74 est.) and $1.91B revenue (vs. $1.86B est.), and set Q1 2026 guidance of $0.590–0.630 EPS and FY2026 guidance of $2.940–3.000 EPS.
• Significant insider selling occurred on Feb 2 when CEO Ken Xie sold 175,737 shares and VP Michael Xie sold 343,106 shares (totaling roughly $42.2M), while insiders still own about 18% of the company.

Korea Investment CORP lessened its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,254 shares of the software maker's stock after selling 26,928 shares during the quarter. Korea Investment CORP owned 0.06% of Fortinet worth $36,092,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FTNT. Allstate Corp acquired a new stake in shares of Fortinet during the third quarter worth approximately $2,034,000. Asset Management One Co. Ltd. boosted its holdings in shares of Fortinet by 4.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker's stock worth $33,824,000 after acquiring an additional 17,892 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Fortinet by 465.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker's stock worth $64,255,000 after acquiring an additional 622,809 shares in the last quarter. Machina Capital S.A.S. bought a new stake in Fortinet during the 3rd quarter worth approximately $1,177,000. Finally, Penserra Capital Management LLC grew its position in Fortinet by 22.3% during the 3rd quarter. Penserra Capital Management LLC now owns 1,356,122 shares of the software maker's stock worth $114,021,000 after acquiring an additional 246,844 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Fortinet Stock Up 0.2%

Shares of FTNT opened at $83.81 on Tuesday. The business's fifty day moving average price is $80.29 and its two-hundred day moving average price is $81.55. The firm has a market capitalization of $62.01 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.89 and a beta of 1.05. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $109.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The firm's quarterly revenue 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. On average, analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Activity

In other news, CEO Ken Xie sold 175,737 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 $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Xie sold 343,106 shares of the business'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 $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares of the company's stock, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTNT. Evercore set a $80.00 price objective on Fortinet in a research report on Friday, February 6th. Weiss Ratings restated a "hold (c)" rating on shares of Fortinet in a report on Monday, December 29th. Piper Sandler restated a "neutral" rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. Daiwa Securities Group cut Fortinet from an "outperform" rating to a "neutral" rating and set a $86.00 price target for the company. in a report on Wednesday, November 12th. Finally, Morgan Stanley reiterated an "underweight" rating and set a $70.00 price target (up from $66.00) on shares of Fortinet in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Fortinet currently has a consensus rating of "Hold" and a consensus price target of $88.62.

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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