Legal & General Group Plc Takes Position in Fortinet, Inc. $FTNT

Posted by Brian Himes on Aug 25th, 2026

Legal & General Group Plc bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,373,269 shares of the software maker’s stock, valued at approximately $979,062,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. boosted its holdings in Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the last quarter. Dunhill Financial LLC purchased a new stake in Fortinet during the 2nd quarter worth approximately $25,000. Burk Holdings LLC purchased a new stake in Fortinet during the 2nd quarter worth approximately $25,000. Wexford Capital LP acquired a new position in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Fortinet in the 4th quarter valued at approximately $27,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. BMO Capital Markets upped their price target on shares of Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Cantor Fitzgerald reissued a “neutral” rating on shares of Fortinet in a report on Monday. Finally, Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $150.91.

Check Out Our Latest Research Report on Fortinet

Fortinet Stock Performance

Shares of FTNT stock opened at $151.99 on Tuesday. 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 business has a 50 day moving average of $156.29 and a two-hundred day moving average of $118.38. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The company has a market cap of $111.52 billion, a P/E ratio of 53.52, a PEG ratio of 2.91 and a beta of 1.07.

Fortinet (NASDAQ:FTNT – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) 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 business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The business’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. As a group, analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This trade represents 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. In the last three months, insiders have sold 329,142 shares of company stock valued at $50,731,178. Corporate insiders own 17.60% of the company’s stock.

Fortinet Profile

(Free Report)

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.