Mirae Asset Global Investments Co. Ltd. Increases Holdings in Fortinet, Inc. $FTNT

Key Points

• Mirae Asset Global Investments increased its Fortinet stake by 6.5% in Q4 to 348,250 shares, valued at about $27.7 million per its 13F filing.
• Executives Michael Xie and CEO Ken Xie sold 343,106 and 175,737 shares respectively on Feb. 2 — roughly $42.2 million combined — reducing their ownership by about 3.25% and 0.34%.
• Fortinet beat expectations with Q results of $0.81 EPS vs. $0.74 est and $1.91B revenue vs. $1.86B, set Q1 FY2026 EPS guidance of 0.590–0.630 (FY 2026: 2.94–3.00), while analysts hold a consensus "Hold" rating and $87.68 price target.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,250 shares of the software maker's stock after buying an additional 21,177 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Fortinet were worth $27,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Consulate Inc. bought a new position in Fortinet in the third quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in Fortinet in the third quarter worth about $25,000. Pinnacle Holdings LLC bought a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Finally, Wexford Capital LP purchased a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FTNT shares. Evercore set a $80.00 price objective on shares of Fortinet in a research note on Friday, February 6th. TD Cowen raised shares of Fortinet from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a report on Friday, January 23rd. Citigroup reiterated a "neutral" rating and issued a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Monday, February 9th. UBS Group reiterated a "neutral" rating and set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Finally, Truist Financial set a $88.00 price objective on shares of Fortinet in a research report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $87.68.

Insider Buying and Selling

In other news, VP Michael Xie sold 343,106 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 $27,935,690.52. Following the sale, the vice president 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is currently owned by insiders.

Fortinet Price Performance

NASDAQ:FTNT opened at $81.84 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The business's 50-day simple moving average is $81.73 and its two-hundred day simple moving average is $81.77. The stock has a market cap of $60.56 billion, a PE ratio of 33.68, a P/E/G ratio of 2.83 and a beta of 1.00. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $109.33.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business'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. As a group, analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

About Fortinet

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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