Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257,080 shares of the software maker’s stock after selling 28,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fortinet were worth $20,415,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Wexford Capital LP acquired a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new position in shares of Fortinet during the 4th quarter worth approximately $27,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Fortinet during the 3rd quarter worth approximately $28,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Fortinet News Roundup
Here are the key news stories impacting Fortinet this week:
- Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
- Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
- Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
- Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
- Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.
Fortinet Price Performance
Fortinet (NASDAQ:FTNT – Get Free Report) last announced its quarterly 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. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed 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. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Rosenblatt Securities boosted their price target on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. BTIG Research boosted their price target on Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. BMO Capital Markets boosted their price target on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.69.
Get Our Latest Research Report on Fortinet
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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