Mitsubishi UFJ Asset Management Co. Ltd. Acquires 46,174 Shares of Fortinet, Inc. $FTNT

Key Points

• Mitsubishi UFJ Asset Management raised its Fortinet stake by 3.4%, buying 46,174 shares to hold 1,409,465 shares (about 0.19%) valued at roughly $109.8 million.
• Fortinet beat Q1 estimates and raised guidance, reporting $0.82 EPS vs. $0.62 expected and $1.85B revenue vs. $1.73B, with revenue up 20% YoY, strong product growth and record operating/free cash flow.
• Insiders — CEO Ken Xie and VP Michael Xie — sold shares under pre‑arranged Rule 10b5‑1 plans to cover taxes on vested awards, representing tiny percentage reductions but sizable dollar transactions (~$476k and ~$220k).

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,409,465 shares of the software maker's stock after buying an additional 46,174 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Fortinet worth $109,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTNT. Allstate Corp acquired a new position in Fortinet during the 3rd quarter worth $2,034,000. Trilogy Capital Inc. raised its position in shares of Fortinet by 46.8% during the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock worth $3,506,000 after acquiring an additional 14,076 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Fortinet by 465.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker's stock valued at $64,255,000 after acquiring an additional 622,809 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in Fortinet in the third quarter worth about $1,177,000. Finally, Victory Capital Management Inc. increased its position in Fortinet by 5.8% in the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker's stock worth $138,874,000 after purchasing an additional 90,284 shares during the period. 83.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Michael Xie sold 2,478 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. 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, CEO Ken Xie sold 5,355 shares of the company's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the completion of the sale, the chief executive officer directly owned 52,978,004 shares of the company's stock, valued at $4,709,744,555.60. The trade was a 0.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. 17.20% of the stock is currently owned by insiders.

Fortinet Trading Up 0.0%

NASDAQ:FTNT opened at $89.95 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $108.77. The firm has a market capitalization of $65.85 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 3.08 and a beta of 0.92. The business's 50-day moving average price is $82.32 and its two-hundred day moving average price is $81.81.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The company's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, equities analysts expect that Fortinet, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on FTNT shares. Mizuho cut their target price on shares of Fortinet from $74.00 to $70.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 14th. Compass Point set a $100.00 price target on shares of Fortinet in a research report on Monday. Truist Financial set a $88.00 price target on shares of Fortinet in a research note on Tuesday, January 20th. Royal Bank Of Canada restated a "sector perform" rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a report on Friday, February 6th. Finally, Weiss Ratings raised shares of Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $88.38.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q1 beat and upgraded guidance — Fortinet reported $0.82 EPS vs. $0.61 expected and $1.85B revenue vs. $1.73B expected; management raised Q2 EPS and FY‑2026 EPS and revenue guidance, providing a clear catalyst for near‑term upside. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: Operational strength — Revenue +20% YoY, product revenue +41%, billings +31%, and record operating/free cash flow, which support margins and long‑term SaaS/recurring revenue durability. Q1 Press Release / Slide Deck
• Positive Sentiment: Analyst support — BMO lifted its price target to $100 (market‑perform), backing the stock’s upside narrative and may attract buy‑side flows. BMO Capital Markets Issues Positive Forecast for Fortinet NASDAQ: FTNT Stock Price
• Positive Sentiment: Product news: FortiGate G series launch — New ASIC‑accelerated appliances positioned to secure AI workloads, reinforcing Fortinet’s product leadership in a growing AI/security spending cycle. Fortinet Expands FortiGate G Series
• Neutral Sentiment: Insider sales disclosed — CEO and VP sold shares under pre‑arranged 10b5‑1 plans to cover taxes on vested awards; routine but can be perceived as liquidity. SEC Form 4 — Insider Sales
• Neutral Sentiment: Analyst mix — Several firms maintain neutral/hold ratings and divergent price targets, so further upside may depend on sustained execution vs. raised guidance. MarketBeat Analyst Notes
• Negative Sentiment: Institutional trimming and downgrade risk — Some large holders have trimmed positions and there remain sell/hold ratings that could limit momentum if upcoming quarters slow. QuiverQuant — Positioning & Institutional Moves

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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