Fortinet Releases 2024 Sustainability Report Highlighting Commitment to Cybersecurity and Environmental Responsibility

Fortinet released its 2024 Sustainability Report, highlighting commitments to cybersecurity, climate action, and education initiatives.

Quiver AI Summary

Fortinet has released its 2024 Sustainability Report, detailing the company’s commitment to integrating sustainability into its operations while advancing cybersecurity efforts. CEO Michael Xie emphasized the importance of cybersecurity in the context of digital transformation and the company’s dedication to improving the environmental impact of its products and closing the cybersecurity skills gap by training 1 million people by 2026. The report highlights key achievements, including innovations in AI-powered security solutions, significant engagement in global cybercrime initiatives leading to numerous arrests, validated greenhouse gas emissions reduction targets, and enhanced product sustainability measures. Fortinet's efforts have been recognized through multiple accolades, including inclusion in the Dow Jones indices for corporate responsibility and a positive shift in its CDP Climate Change rating. The report aligns with several international sustainability and reporting standards, covering eight priority issues such as innovation, climate action, and cybersecurity education.

Potential Positives

• Fortinet's Sustainability Report highlights a commitment to training 1 million individuals in cybersecurity by 2026, addressing the critical cybersecurity skills gap.
• The company achieved recognition as a "Best Company to Work For" by Glassdoor and as one of the most trusted companies in America, enhancing its reputation and attractiveness as an employer.
• Fortinet's introduction of new, energy-efficient products demonstrates its commitment to reducing environmental impact, with new models being 61% more energy efficient than previous generations.
• The validation of Fortinet's greenhouse gas emissions reduction targets by the Science Based Targets initiative underscores its accountability and commitment to significant climate action, aligning with global efforts to limit warming to 1.5°C.

Potential Negatives

• There is no mention of specific, measurable outcomes from sustainability efforts, making it difficult for stakeholders to assess actual progress beyond general commitments.


• While Fortinet highlights partnerships and collaborations, it does not provide transparency regarding any challenges or failures faced in these initiatives, which could raise concerns over accountability.


• The press release may come across as overly promotional, which could lead to skepticism about the authenticity of the company's commitments to sustainability and ethical practices.

FAQ

What is the main focus of Fortinet's 2024 Sustainability Report?

The report outlines Fortinet's sustainability commitments and progress on key environmental and cybersecurity issues.

How is Fortinet addressing the cybersecurity skills gap?

Fortinet is training 1 million individuals by 2026 and has trained over 630,000 since 2022.

What initiatives is Fortinet undertaking for climate action?

Fortinet aims to reduce greenhouse gas emissions with validated science-based targets and improved energy efficiency in products.

What partnerships is Fortinet involved in to combat cybercrime?

Fortinet collaborates with INTERPOL and the World Economic Forum on initiatives like Operation Serengeti to combat cybercrime.

What recognition has Fortinet received for its sustainability efforts?

Fortinet has been included in the Dow Jones Best-in-Class Indices and recognized for its approach to corporate responsibility.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$FTNT Congressional Stock Trading

Members of Congress have traded $FTNT stock 3 times in the past 6 months. Of those trades, 2 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $FTNT stock by members of Congress over the last 6 months:

• REPRESENTATIVE BYRON DONALDS has traded it 2 times. They made 2 purchases worth up to $30,000 on 02/13 and 0 sales.
• REPRESENTATIVE ROBERT BRESNAHAN sold up to $15,000 on 01/13.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$FTNT Insider Trading Activity

$FTNT insiders have traded $FTNT stock on the open market 59 times in the past 6 months. Of those trades, 2 have been purchases and 57 have been sales.

Here’s a breakdown of recent trading of $FTNT stock by insiders over the last 6 months:

• KEN XIE (PRESIDENT & CEO) has made 0 purchases and 32 sales selling 412,463 shares for an estimated $40,002,211.
• MICHAEL XIE (VP, ENGINEERING & CTO) has made 0 purchases and 7 sales selling 351,496 shares for an estimated $34,028,399.
• KEITH JENSEN (Chief Financial Officer) has made 0 purchases and 14 sales selling 119,765 shares for an estimated $11,511,466.
• JOHN WHITTLE (CHIEF OPERATING OFFICER) has made 0 purchases and 2 sales selling 38,495 shares for an estimated $3,293,666.
• KENNETH A GOLDMAN has made 0 purchases and 2 sales selling 3,000 shares for an estimated $299,320.
• WILLIAM H. NEUKOM has made 2 purchases buying 683 shares for an estimated $69,845 and 0 sales.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$FTNT Hedge Fund Activity

We have seen 610 institutional investors add shares of $FTNT stock to their portfolio, and 494 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• NORGES BANK added 6,759,922 shares (+748.1%) to their portfolio in Q4 2024, for an estimated $638,677,430
• FMR LLC added 2,846,475 shares (+77.2%) to their portfolio in Q4 2024, for an estimated $268,934,958
• ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 2,151,811 shares (+39.3%) to their portfolio in Q4 2024, for an estimated $203,303,103
• BESSEMER GROUP INC added 2,064,016 shares (+72.6%) to their portfolio in Q4 2024, for an estimated $195,008,231
• SWEDBANK AB removed 2,015,745 shares (-29.6%) from their portfolio in Q4 2024, for an estimated $190,447,587
• INVESCO LTD. added 2,000,888 shares (+31.3%) to their portfolio in Q4 2024, for an estimated $189,043,898
• MILLENNIUM MANAGEMENT LLC removed 1,811,984 shares (-49.9%) from their portfolio in Q4 2024, for an estimated $171,196,248

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$FTNT Analyst Ratings

Wall Street analysts have issued reports on $FTNT in the last several months. We have seen 4 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

• Goldman Sachs issued a "Buy" rating on 01/02/2025
• KeyBanc issued a "Overweight" rating on 12/19/2024
• Morgan Stanley issued a "Overweight" rating on 12/02/2024
• Cowen & Co. issued a "Buy" rating on 11/19/2024
• Wedbush issued a "Underperform" rating on 10/23/2024

To track analyst ratings and price targets for $FTNT, check out Quiver Quantitative's $FTNT forecast page.

$FTNT Price Targets

Multiple analysts have issued price targets for $FTNT recently. We have seen 8 analysts offer price targets for $FTNT in the last 6 months, with a median target of $101.5.

Here are some recent targets:

• An analyst from UBS set a target price of $123.0 on 03/18/2025
• Eric Heath from KeyBanc set a target price of $115.0 on 12/19/2024
• Adam Borg from Stifel Nicolaus set a target price of $103.0 on 12/18/2024
• Catherine Trebnick from Rosenblatt Securities set a target price of $100.0 on 11/19/2024
• Stephen Bersey from HSBC set a target price of $111.0 on 11/11/2024
• Keith Bachman from BMO Capital set a target price of $88.0 on 11/08/2024
• Saket Kalia from Barclays set a target price of $85.0 on 11/04/2024

Full Release

SUNNYVALE, Calif., April 16, 2025 (GLOBE NEWSWIRE) --

News Summary

Fortinet

® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today released its

2024 Sustainability Report

, outlining the company's approach, key commitments, and progress on the sustainability topics that matter most to the company and its stakeholders.

“As digital transformation accelerates, cybersecurity is more critical than ever to safeguarding businesses, the global economy and society at large,” said Michael Xie, Founder, President and CTO at Fortinet. “Fortinet is committed to having our products, services, and people contribute to building a more secure and sustainable society–from improving the environmental impact of our products through energy efficiency and more sustainable packaging, to our commitment to closing the cybersecurity skills gap by training 1 million individuals by 2026. We are proud of the progress we've made and remain committed to integrating sustainability across all aspects of our operations.”

As cybersecurity continues to play a leading role in enabling a sustainable digital future, Fortinet remains committed to protecting people, businesses, and communities worldwide while operating responsibly and minimizing its environmental footprint.

Highlights from the Fortinet 2024 Sustainability Report include:

• 
  
  Driving innovation and responsible technology to secure the digital world:
  
  With nearly 1,400 patents issued and more than 450 pending, Fortinet continues to pioneer AI-powered security solutions, collaborating with organizations such as University of California (UC) Berkeley, the World Economic Forum, and the Cybersecurity and Infrastructure Security Agency (CISA) to advance AI use in cybersecurity. In 2024, Fortinet also became one of the early signatory of CISA’s
  
  Secure by Design pledge
  
  , reinforcing its commitment to security at every stage of the product lifecycle.
  
  
  
  
  


• 
  
  Strengthening global efforts to combat cybercrime:
  
  In 2024, Fortinet deepened its engagement with numerous global organizations dedicated to halting cybercrime, supporting major initiatives such as INTERPOL’s Operation Serengeti and the World Economic Forum Cybercrime Atlas Project. These collaborative efforts in 2024 contributed to over 1,000 arrests, the dismantling of 134,000+ malicious networks, and the recovering of $44 million USD.
  
  
  
  
  


• 
  
  Accelerating climate action with near-term, science-based targets:
  
  In 2024, Fortinet’s near-term greenhouse gas emissions reduction targets were validated by the Science Based Targets initiative. These climate near-term targets include scopes 1 and 2 emissions, aligned with a 1.5°C trajectory to limit global warming, as well as scope 3 targets focused on supplier and customer engagement to drive emission reductions across the value chain.
  
  
  
  
  


• 
  
  Improving product energy efficiency and sustainable packaging
  
  : In 2024, Fortinet introduced new FortiGate models that are, on average, 61% more energy efficient than previous generations. Additionally, the company expanded its efforts to minimize environmental impact by launching 22 FSC-certified packaging models, prioritizing plastic-free packaging across 86 top-selling products, and avoiding 387 metric tons of CO2e emissions, including 77 metric tons of plastic reduction.
  
  
  
  
  


• 
  
  Addressing the cybersecurity skills gap and expanding access to education:
  
  Since 2022, Fortinet has trained more than 630,000 individuals in cybersecurity through the Fortinet Training Institute initiatives. In 2024, Fortinet joined the European Commission’s Cybersecurity Skills Academy, committing to train 75,000 people in the EU by 2027. Fortinet also contributed to the World Economic Forum’s 2024 Strategic Cybersecurity Talent Framework, helping to shape global best practices for sustainable cybersecurity talent development.
  
  
  
  
  


• 
  
  Upholding strong business ethics and information security practices:
  
  In 2024, 100% of Fortinet’s top contract manufacturers (covering 90% of spend) and distributors completed business ethics and compliance training. Fortinet expanded its ISO 27001/17/18 certifications and its SOC2 Type II examinations, achieving 81 information security certifications and examinations strengthening data protection and privacy measures.
  
  
  

Industry Recognition for Responsible Business Practices



Fortinet’s continued progress in sustainability and responsible business practices has been recognized through multiple industry accolades, including:

• 
  Inclusion in the 2024 Dow Jones Best-in-Class World and North America Indices for the third consecutive year, reflecting its leadership in corporate responsibility.
  


• 
  An improved CDP Climate Change rating, moving from a B- to a B score, reflecting strengthened climate action and transparency.
  


• 
  Recognition as a 2024 “Best Company to Work For” by Glassdoor and a “Great Place to Work,” underscoring Fortinet’s commitment to fostering a workplace where everyone can thrive.
  


• 
  Recognized as No. 7 on
  
  Forbes’ Most Trusted Companies in America 2025
  
  list—and the most trusted U.S.-based cybersecurity company.
  

Fortinet’s

2024 Sustainability Report

references the Task Force on Climate-related Financial Disclosures (TCFD), the Global Reporting Initiative (GRI) Standards, Sustainability Accountability Standards Board (SASB) Standards and the United Nations Sustainable Development Goals (UN SDGs). The report details Fortinet’s progress and metrics across the following eight priority issues: innovation and responsible technology; cybercrime disruption; climate change; product environmental impacts; inclusion and belonging; cybersecurity skills gap; business ethics; and information security and data privacy.

Additional Resources

• 
  Read the full
  
  Fortinet 2024 Sustainability Report
  
  .
  


• 
  Learn more about Fortinet’s
  
  Corporate Social Responsibility
  
  vision and approach.
  


• 
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About Fortinet




Fortinet

(Nasdaq: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patented, and most validated in the industry. The

Fortinet Training Institute

, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with

esteemed organizations

from both the public and private sectors, including Computer Emergency Response Teams (“CERTS”), government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally.

FortiGuard Labs

, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at

https://www.fortinet.com

, the

Fortinet Blog

, and

FortiGuard Labs

.

Copyright © 2025 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAgent, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiCNP, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortiDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiDLP, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPAM, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiScanner, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSRA, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM, FortiXDR and Lacework FortiCNAPP. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.