Pictet Asset Management Holding SA Acquires 630,369 Shares of Fortinet, Inc. $FTNT

Key Points

• Pictet Asset Management Holding SA increased its stake in Fortinet by 25% in Q4, buying 630,369 shares to hold 3,155,993 shares worth about $250.7 million (≈0.42% of the company).
• Significant insider selling: VP Michael Xie sold 343,106 shares for roughly $27.94 million and CEO Ken Xie sold 175,737 shares for about $14.31 million, with insiders still owning 18% of Fortinet.
• Fortinet beat Q4 estimates with $0.81 EPS and $1.91B revenue (up 14.8% year-over-year), issued Q1 and FY2026 guidance (Q1: $0.590–0.630; FY: $2.940–3.000), and carries a MarketBeat consensus rating of Hold with a $87.72 target.

Pictet Asset Management Holding SA raised its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,155,993 shares of the software maker's stock after buying an additional 630,369 shares during the quarter. Pictet Asset Management Holding SA owned 0.42% of Fortinet worth $250,716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker's stock valued at $6,354,874,000 after buying an additional 2,894,355 shares during the period. State Street Corp increased its holdings in Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker's stock valued at $2,493,860,000 after buying an additional 477,397 shares during the period. Invesco Ltd. increased its holdings in Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker's stock valued at $909,453,000 after buying an additional 1,568,337 shares during the period. First Trust Advisors LP increased its holdings in Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker's stock valued at $636,962,000 after buying an additional 1,790,033 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Fortinet by 2.9% in the 3rd quarter. Nordea Investment Management AB now owns 6,922,031 shares of the software maker's stock valued at $586,781,000 after buying an additional 195,896 shares during the period. Institutional investors own 83.71% of the company's stock.

Analyst Ratings Changes

FTNT has been the topic of several analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $90.00 price target (up from $85.00) on shares of Fortinet in a report on Friday, February 6th. Truist Financial set a $88.00 price target on shares of Fortinet in a report on Tuesday, January 20th. Arete Research set a $104.00 price target on shares of Fortinet in a report on Monday. Rosenblatt Securities boosted their price target on shares of Fortinet from $100.00 to $105.00 and gave the company a "buy" rating in a report on Friday, February 6th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, Fortinet presently has an average rating of "Hold" and a consensus target price of $87.72.

Fortinet Stock Up 0.0%

FTNT opened at $84.37 on Monday. The firm's 50-day simple moving average is $81.59 and its 200-day simple moving average is $81.68. 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, Inc. has a twelve month low of $70.12 and a twelve month high of $109.33. The firm has a market cap of $62.43 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.89 and a beta of 1.00.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm'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. Equities research analysts anticipate that Fortinet, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In related news, VP Michael Xie sold 343,106 shares of the company's stock in a transaction dated 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 transaction, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ken Xie sold 175,737 shares of the company's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is owned by corporate insiders.

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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