Fundsmith Investment Services LTD. decreased its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 20.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,818,233 shares of the software maker’s stock after selling 461,499 shares during the quarter. Fortinet accounts for about 2.6% of Fundsmith Investment Services LTD.’s holdings, making the stock its 16th biggest holding. Fundsmith Investment Services LTD.’s holdings in Fortinet were worth $144,386,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of FTNT. Brighton Jones LLC raised its stake in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after purchasing an additional 221 shares in the last quarter. Bison Wealth LLC bought a new stake in shares of Fortinet during the fourth quarter valued at about $585,000. HUB Investment Partners LLC raised its stake in shares of Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Fortinet during the second quarter valued at about $1,136,000. Finally, Quantinno Capital Management LP raised its stake in shares of Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.
Key Fortinet News
Here are the key news stories impacting Fortinet this week:
- Positive Sentiment: Fortinet launched FortiSOC, a unified, cloud-delivered SOC platform powered by agentic AI, which could strengthen its cybersecurity product lineup and support future revenue growth. Fortinet Launches FortiSOC, a Unified SOC Platform Powered by Agentic AI
- Positive Sentiment: TD Cowen and Cantor Fitzgerald raised their price targets on Fortinet, citing strong security and AI growth prospects, which reinforces a bullish outlook for the stock. TD Cowen and Cantor Fitzgerald Increase Fortinet Price Targets
- Positive Sentiment: At its annual meeting, shareholders backed the board, auditor, and executive pay, reducing governance uncertainty and signaling continued investor support. Fortinet Shareholders Back Board, Auditor and Executive Pay
- Neutral Sentiment: Coverage on FTNT noted the stock underperformed competitors on Tuesday, but the article did not point to a new fundamental problem. Fortinet Inc. stock underperforms Tuesday when compared to competitors
- Neutral Sentiment: Trading-focused articles suggested bullish technical setups and an options strategy targeting upside, but these were largely commentary rather than fresh business news. Fortinet Stock: Aim For A 28% Return With This Strategy On The Cybersecurity Firm
Fortinet Trading Down 1.7%
Fortinet (NASDAQ:FTNT – Get Free Report) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. 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, research analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. UBS Group lifted their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Robert W. Baird set a $115.00 price objective on shares of Fortinet in a research note on Thursday, May 7th. TD Cowen restated a “buy” rating and set a $160.00 price objective (up from $125.00) on shares of Fortinet in a research note on Monday, June 8th. Finally, Bank of America boosted their price target on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $107.77.
Read Our Latest Analysis on Fortinet
Insider Buying and Selling
In related news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% 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. Over the last ninety days, insiders sold 318,387 shares of company stock worth $43,403,063. Corporate insiders own 17.60% of the company’s stock.
Fortinet Profile
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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