FORTINET INC FTNT
COM · Common Stock · CUSIP 34959E109 · ISIN US34959E1091
Network security corporation
- SectorTechnology
- IndustryComputer Peripheral Equipment, NEC
- HeadquartersSunnyvale, CA
- Founded2000
- Websitefortinet.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($121.6m this quarter). Holder counts are more reliable. Shares outstanding: 764.9m as of 2024-08-02, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $60.27. Options: 43 managers hold calls ($414.2m notional), 41 hold puts ($482.2m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 892 |
| Q4 2022 | 954 |
| Q1 2023 | 994 |
| Q2 2023 | 1,105 |
| Q3 2023 | 1,074 |
| Q4 2023 | 1,067 |
| Q1 2024 | 1,112 |
| Q2 2024 | 1,074 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 407 | 451 |
| Q1 2023 | 446 | 508 |
| Q2 2023 | 555 | 444 |
| Q3 2023 | 516 | 559 |
| Q4 2023 | 445 | 594 |
| Q1 2024 | 546 | 507 |
| Q2 2024 | 524 | 517 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $412.8m | $287.6m | 0.70 |
| Q4 2023 | $518.6m | $401.4m | 0.77 |
| Q1 2024 | $475.1m | $536.7m | 1.13 |
| Q2 2024 | $414.2m | $482.2m | 1.16 |
Biggest buyers
| MARSHALL WACE, LLP | Added | +4.1m |
| BARCLAYS PLC | Added | +3.2m |
| TWO SIGMA ADVISERS, LP | Added | +3.0m |
| VAN ECK ASSOCIATES CORP | Added | +2.8m |
| TWO SIGMA INVESTMENTS, LP | Added | +2.6m |
| Hound Partners, LLC | New | +2.4m |
| Fundsmith LLP | Added | +2.1m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +1.8m |
| T. Rowe Price Investment Management, Inc. | Added | +1.7m |
| FIRST TRUST ADVISORS LP | Added | +1.6m |
Biggest sellers
| MORGAN STANLEY | Reduced | -16.9m |
| ALLIANCEBERNSTEIN L.P. | Reduced | -12.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -6.1m |
| SCHRODER INVESTMENT MANAGEMENT GROUP | Sold out | -2.7m |
| FMR LLC | Reduced | -2.4m |
| Mirae Asset Global Investments Co., Ltd. | Reduced | -1.7m |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -1.6m |
| Holocene Advisors, LP | Sold out | -1.6m |
| AMERIPRISE FINANCIAL INC | Reduced | -1.5m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -1.4m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $72.3m1.2m shares |
| CITADEL ADVISORS LLC | Reduced | $67.6m1.1m shares |
| JPMORGAN CHASE & CO | Added | $35.7m592.8k shares |
| SIMPLEX TRADING, LLC | Added | $25.1m417.3k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $17.2m285.3k shares |
| WOLVERINE TRADING, LLC | Added | $16.2m269.3k shares |
| IMC-Chicago, LLC | Added | $15.6m259.5k shares |
| Walleye Capital LLC | Added | $15.4m254.9k shares |
| Walleye Trading LLC | Added | $15.2m252.8k shares |
| Cubist Systematic Strategies, LLC | Added | $14.7m243.1k shares |
Biggest puts
| JPMORGAN CHASE & CO | Added | $70.5m1.2m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $63.6m1.1m shares |
| CITADEL ADVISORS LLC | Reduced | $62.8m1.0m shares |
| SIMPLEX TRADING, LLC | Added | $38.1m631.9k shares |
| Qube Research & Technologies Ltd | Added | $33.0m547.4k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $25.0m414.3k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $15.8m261.8k shares |
| JANE STREET GROUP, LLC | Added | $14.9m247.6k shares |
| Walleye Capital LLC | Reduced | $13.9m229.9k shares |
| IMC-Chicago, LLC | Added | $12.9m214.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2022 | 1 | $24.5k | 2 | $2.8m | — |
| Q4 2022 | 1 | $25.6k | 3 | $635.8k | — |
| Q1 2023 | 0 | — | 3 | $53.9m | — |
| Q2 2023 | 1 | $28.5k | 3 | $4.5m | — |
| Q3 2023 | 1 | $34.9k | 3 | $4.3m | — |
| Q4 2023 | 1 | $34.9k | 4 | $9.8m | $6.5m |
| Q1 2024 | 1 | $34.9k | 4 | $21.4m | $21.4m |
| Q2 2024 | 1 | $34.9k | 3 | $12.9m | $12.9m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-06-12 | Xie Ken PRESIDENT & CEO, director | Sold plan | $1.5m24.3k shares |
| 2024-06-11 | Xie Ken PRESIDENT & CEO, director | Sold plan | $1.4m24.2k shares |
| 2024-06-06 | NEUKOM WILLIAM H. Director | Bought plan | $34.9k586 shares |
| 2024-06-05 | Jensen Keith Chief Financial Officer | Sold plan | $2.3m39.0k shares |
| 2024-05-15 | Xie Ken PRESIDENT & CEO, director | Sold plan | $1.5m24.2k shares |
| 2024-05-14 | Xie Ken PRESIDENT & CEO, director | Sold plan | $1.5m24.3k shares |
| 2024-05-02 | Xie Michael VP, ENGINEERING & CTO, director | Sold plan | $1.6m24.7k shares |
| 2024-04-17 | Xie Ken PRESIDENT & CEO, director | Sold plan | $1.6m24.0k shares |
| 2024-04-16 | Xie Ken PRESIDENT & CEO, director | Sold plan | $1.6m24.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.08% of their portfolio | 66.9m $4.0bn | Reduced -1.2m |
| BlackRock Inc. 0.08% of their portfolio | 55.2m $3.3bn | Added +2.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.21% of their portfolio | 29.0m $1.7bn | Reduced -6.1m |
| STATE STREET CORP 0.07% of their portfolio | 26.5m $1.6bn | Reduced -285.7k |
| Bank of New York Mellon Corp 0.20% of their portfolio | 17.9m $1.1bn | Reduced -156.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 14.5m $873.8m | Added +100.6k |
| Fundsmith LLP 2.53% of their portfolio | 10.3m $619.9m | Added +2.1m |
| BARCLAYS PLC 0.25% of their portfolio | 9.2m $553.4m | Added +3.2m |
| NORDEA INVESTMENT MANAGEMENT AB 0.64% of their portfolio | 9.0m $543.3m | Added +190.3k |
| MORGAN STANLEY 0.04% of their portfolio | 8.7m $523.9m | Reduced -16.9m |
| Swedbank AB 0.66% of their portfolio | 8.2m $491.6m | Added +134.4k |
| TWO SIGMA ADVISERS, LP 0.94% of their portfolio | 7.0m $420.8m | Added +3.0m |
| T. Rowe Price Investment Management, Inc. 0.26% of their portfolio | 6.8m $410.2m | Added +1.7m |
| FIRST TRUST ADVISORS LP 0.41% of their portfolio | 6.7m $405.8m | Added +1.6m |
| Invesco Ltd. 0.08% of their portfolio | 6.6m $397.4m | Added +347.3k |
| MARSHALL WACE, LLP 0.53% of their portfolio | 6.2m $376.0m | Added +4.1m |
| NORTHERN TRUST CORP 0.06% of their portfolio | 5.8m $347.2m | Reduced -261.4k |
| VAN ECK ASSOCIATES CORP 0.49% of their portfolio | 5.8m $346.9m | Added +2.8m |
| Legal & General Group Plc 0.10% of their portfolio | 5.7m $344.0m | Reduced -612.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.09% of their portfolio | 5.2m $316.1m | Added +1.8m |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 5.2m $312.1m | Reduced -40.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.51% of their portfolio | 5.0m $302.9m | Added +657.4k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 1.07% of their portfolio | 4.3m $257.9m | Added +282.0k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 4.2m $253.6m | Added +447.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.20% of their portfolio | 3.8m $228.7m | Reduced -1.4m |
| TWO SIGMA INVESTMENTS, LP 0.54% of their portfolio | 3.8m $226.3m | Added +2.6m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 3.7m $226.0m | Added +103.2k |
| AMERIPRISE FINANCIAL INC 0.06% of their portfolio | 3.7m $224.3m | Reduced -1.5m |
| Amundi 0.07% of their portfolio | 3.2m $193.7m | Added +286.6k |
| Robeco Institutional Asset Management B.V. 0.40% of their portfolio | 3.1m $186.5m | Added +262.5k |
| Pictet Asset Management Holding SA 0.21% of their portfolio | 3.0m $179.3m | Reduced -51.7k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 2.9m $172.8m | Added +478.5k |
| BESSEMER GROUP INC 0.30% of their portfolio | 2.8m $170.6m | Reduced -452.8k |
| DEUTSCHE BANK AG\ 0.08% of their portfolio | 2.8m $168.9m | Added +160.1k |
| UBS Group AG 0.05% of their portfolio | 2.7m $162.8m | Added +128.9k |
| AQR CAPITAL MANAGEMENT LLC 0.25% of their portfolio | 2.7m $161.3m | Added +1.3m |
| FUNDSMITH INVESTMENT SERVICES LTD. 1.95% of their portfolio | 2.5m $151.2m | Added +515.8k |
| Mitsubishi UFJ Trust & Banking Corp 0.36% of their portfolio | 2.5m $150.9m | Added +138.7k |
| Hound Partners, LLC 29.10% of their portfolio | 2.4m $145.1m | New |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 2.4m $144.1m | Reduced -224.3k |
| AMERICAN CAPITAL MANAGEMENT INC 4.73% of their portfolio | 2.3m $141.2m | Reduced -14.0k |
| Sarasin & Partners LLP 1.15% of their portfolio | 2.2m $130.4m | Added +395.5k |
| BANK OF MONTREAL /CAN/ 0.04% of their portfolio | 2.0m $124.5m | Added +4.9k |
| D. E. Shaw & Co., Inc. 0.17% of their portfolio | 2.0m $121.3m | Added +613.7k |
| DSM CAPITAL PARTNERS LLC 1.75% of their portfolio | 2.0m $120.8m | Reduced -189.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.13% of their portfolio | 2.0m $119.9m | Added +684.7k |
| MILLENNIUM MANAGEMENT LLC 0.10% of their portfolio | 2.0m $118.2m | Added +1.1m |
| Swiss National Bank 0.08% of their portfolio | 1.9m $115.7m | Reduced -34.6k |
| CITIGROUP INC 0.10% of their portfolio | 1.8m $107.3m | Added +432.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.10% of their portfolio | 1.8m $105.9m | Reduced -1.6m |
| National Pension Service 0.11% of their portfolio | 1.7m $100.1m | Added +52.1k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.23% of their portfolio | 1.6m $96.5m | First filing |
| HSBC HOLDINGS PLC 0.06% of their portfolio | 1.6m $94.4m | Reduced -342.2k |
| Nuveen Asset Management, LLC 0.03% of their portfolio | 1.5m $92.7m | Reduced -284.8k |
| PARNASSUS INVESTMENTS, LLC 0.20% of their portfolio | 1.5m $90.5m | Reduced -106.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.07% of their portfolio | 1.5m $90.3m | Reduced -164.0k |
| Thrivent Financial for Lutherans 0.18% of their portfolio | 1.5m $89.4m | Reduced -14.3k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.23% of their portfolio | 1.5m $88.0m | Added +593.4k |
| CCLA Investment Management 1.28% of their portfolio | 1.4m $83.0m | Added +588.1k |
| Squarepoint Ops LLC 0.31% of their portfolio | 1.4m $83.1m | Added +1.3m |
| VICTORY CAPITAL MANAGEMENT INC 0.08% of their portfolio | 1.4m $83.1m | Added +84.5k |
| Penserra Capital Management LLC 1.03% of their portfolio | 1.3m $81.3m | Added +13.9k |
| Clearbridge Investments, LLC 0.06% of their portfolio | 1.3m $79.9m | Reduced -57.2k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 1.2m $74.4m | Reduced -165.1k |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 1.2m $72.9m | Reduced -39.8k |
| Rokos Capital Management LLP 1.64% of their portfolio | 1.2m $71.3m | Added +433.2k |
| Caisse de depot et placement du Quebec 0.17% of their portfolio | 1.2m $71.1m | Reduced -249.4k |
| California Public Employees Retirement System 0.05% of their portfolio | 1.2m $70.3m | Added +16.9k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 1.17% of their portfolio | 1.1m $65.9m | Reduced -75.2k |
| TD Asset Management Inc 0.06% of their portfolio | 1.1m $64.7m | Added +27.2k |
| Qube Research & Technologies Ltd 0.12% of their portfolio | 1.1m $64.0m | Added +994.6k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.08% of their portfolio | 1.0m $62.6m | Reduced -1.9k |
| Alyeska Investment Group, L.P. 0.36% of their portfolio | 1.0m $61.6m | New |
| Ensign Peak Advisors, Inc 0.11% of their portfolio | 1.0m $61.4m | Reduced -89.2k |
| FMR LLC 0.00% of their portfolio | 979.5k $59.0m | Reduced -2.4m |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 971.4k $58.5m | Reduced -29.7k |
| Empower Advisory Group, LLC 0.22% of their portfolio | 967.9k $58.3m | Added +27.5k |
| GLENMEDE TRUST CO NA 0.29% of their portfolio | 959.2k $57.8m | Reduced -54.3k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 932.1k $56.2m | Reduced -12.7m |
| Fiera Capital Corp 0.17% of their portfolio | 914.4k $55.1m | Added +31.6k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.07% of their portfolio | 912.0k $55.0m | Added +111.6k |
| LGT Group Foundation 0.86% of their portfolio | 906.2k $54.6m | Added +52.7k |
| STIFEL FINANCIAL CORP 0.06% of their portfolio | 905.6k $54.6m | Reduced -40.3k |
| NORGES BANK 0.01% of their portfolio | 903.6k $54.5m | Added +450.5k |
| TWINBEECH CAPITAL LP 1.07% of their portfolio | 898.8k $54.2m | Added +723.2k |
| Allianz Asset Management GmbH 0.09% of their portfolio | 883.2k $53.2m | Reduced -93.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.07% of their portfolio | 878.7k $53.0m | Reduced -214.9k |
| KBC Group NV 0.15% of their portfolio | 831.7k $50.1m | Reduced -78.9k |
| CAPITAL FUND MANAGEMENT S.A. 0.55% of their portfolio | 805.4k $48.5m | Added +91.3k |
| PINEBRIDGE INVESTMENTS, L.P. 0.39% of their portfolio | 800.5k $48.2m | Reduced -186.8k |
| ProShare Advisors LLC 0.13% of their portfolio | 793.1k $47.8m | Reduced -81.9k |
| E. Ohman J:or Asset Management AB 1.13% of their portfolio | 752.3k $45.3m | Added +22.4k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.40% of their portfolio | 733.0k $44.2m | Added +597.7k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.14% of their portfolio | 719.3k $43.4m | Reduced -497.1k |
| Man Group plc 0.11% of their portfolio | 716.1k $43.2m | Added +209.4k |
| 2Xideas AG 5.36% of their portfolio | 712.8k $43.0m | Reduced -21.0k |
| Connor, Clark & Lunn Investment Management Ltd. 0.18% of their portfolio | 710.5k $42.8m | Added +2.3k |
| CANADA LIFE ASSURANCE Co 0.08% of their portfolio | 706.7k $42.6m | Added +7.9k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.08% of their portfolio | 696.3k $42.0m | Reduced -58.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 690.2k $41.6m | Reduced -103.7k |