Korea Investment CORP Makes New Investment in Fortinet, Inc. $FTNT

Key Points

• Korea Investment CORP purchased 391,940 Fortinet shares in the second quarter, valued at approximately $60.2 million. Institutional investors collectively own 83.71% of the company.
• Fortinet reported strong quarterly results, with earnings of $0.90 per share versus the $0.75 consensus estimate and revenue of $2.05 billion, up 25.6% year over year. The company issued fiscal 2026 EPS guidance of $3.41–$3.47.
• Fortinet shares opened at $153.51, while analysts maintain an overall “Hold” rating with an average price target of $150.91. CEO Ken Xie and other insiders sold shares under pre-arranged trading plans, primarily to cover tax obligations.

Korea Investment CORP purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 391,940 shares of the software maker's stock, valued at approximately $60,210,000. Korea Investment CORP owned approximately 0.05% of Fortinet at the end of the most recent reporting period.

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

Insider Activity

In other news, CEO Ken Xie sold 161,482 shares of the business's stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, VP Michael Xie sold 3,907 shares of the business's 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 sale, the vice president 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 329,142 shares of company stock worth $50,731,178 over the last ninety days. Corporate insiders own 17.60% of the company's stock.

Fortinet Trading Up 1.8%

FTNT stock opened at $153.51 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The company has a market cap of $112.63 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.86 and a beta of 1.07. The business has a fifty day simple moving average of $156.24 and a 200-day simple moving average of $117.61. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm's revenue for the quarter was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities research analysts expect that Fortinet, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $160.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. UBS Group reiterated a "neutral" rating and set a $180.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Scotiabank reissued a "sector perform" rating and issued a $163.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Susquehanna lifted their price target on Fortinet from $115.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Finally, Robert W. Baird set a $165.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $150.91.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source