28,806 Shares in Fortinet, Inc. $FTNT Acquired by Andra AP fonden

Key Points

• Andra AP fonden acquired 28,806 Fortinet shares worth approximately $4.43 million in the second quarter, while institutional investors collectively own 83.71% of the stock.
• Fortinet reported strong quarterly results, with EPS of $0.90 versus the $0.75 consensus and revenue of $2.05 billion, up 25.6% year over year. Management issued fiscal 2026 EPS guidance of $3.41 to $3.47.
• Despite strong momentum and a recent share price near its 52-week high, analyst sentiment remains mixed: the consensus rating is “Hold” with a $152.79 price target, while the stock trades at a high P/E ratio of 62.94. Insiders have also sold $36.2 million of shares over the past 90 days.

Andra AP fonden bought a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 28,806 shares of the software maker's stock, valued at approximately $4,425,000.

Several other hedge funds have also bought and sold shares of FTNT. Expressive Wealth LLC purchased a new stake in shares of Fortinet in the 4th quarter valued at $646,000. Transamerica Financial Advisors LLC purchased a new position in Fortinet in the 2nd quarter worth $492,000. Eurizon Capital SGR S.p.A. purchased a new position in Fortinet in the 4th quarter worth $14,638,000. Westerkirk Capital Inc. lifted its stake in Fortinet by 41.9% in the fourth quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker's stock worth $4,169,000 after purchasing an additional 15,500 shares during the last quarter. Finally, Employees Retirement System of Texas lifted its stake in Fortinet by 61.7% in the fourth quarter. Employees Retirement System of Texas now owns 93,293 shares of the software maker's stock worth $7,408,000 after purchasing an additional 35,600 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings raised Fortinet from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 4th. Citigroup boosted their target price on Fortinet from $165.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. UBS Group restated a "neutral" rating and set a $180.00 target price on shares of Fortinet in a report on Thursday, July 30th. Evercore set a $165.00 price target on Fortinet in a research report on Thursday, July 30th. Finally, Wolfe Research set a $175.00 price target on Fortinet in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $152.79.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong operating results and outlook: Fortinet’s latest quarterly results exceeded expectations, with earnings per share of $0.90 versus the $0.75 consensus and revenue of $2.05 billion, up 25.6% year over year and ahead of the $1.89 billion estimate. The company also issued fiscal 2026 EPS guidance of $3.41 to $3.47. Fortinet Stock Surges to New Peak Amid Booming AI Security Demand
• Positive Sentiment: AI and platform demand are supporting momentum: Recent coverage points to accelerating demand for Fortinet’s integrated security platform, including products designed to protect expanding AI deployments and corporate attack surfaces. Cybersecurity is increasingly viewed as a mission-critical operating expense, which may support durable spending. Fortinet Stock Jumps on Security Platform Demand
• Positive Sentiment: Technical and investor momentum: FTNT has reached successive 52-week highs and has more than doubled over the past year. Its relative performance has attracted momentum investors, while analysts highlighting expected earnings strength and cybersecurity demand are reinforcing the bullish narrative. Fortinet Stock Surges to New Peak Amid Booming Cybersecurity Demand
• Neutral Sentiment: Favorable comparisons and recommendations: Commentary has described Fortinet as outperforming computer and technology peers, a potentially attractive growth-at-a-reasonable-price stock, and a stronger cloud-security value proposition than Datadog because of its cash flow, billings growth and valuation. These are analyst opinions rather than new company announcements. Fortinet vs. Datadog
• Negative Sentiment: Valuation and volatility remain risks: After the sharp rally, Fortinet trades at a premium earnings multiple, leaving the stock vulnerable to profit-taking or disappointment if growth slows. Shares also experienced modest declines in recent sessions, although no new fundamental deterioration was reported. Fortinet Stock Heads Into the Open After a Drop

Insiders Place Their Bets

In other news, COO John Whittle sold 53,865 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $165.44, for a total value of $8,911,425.60. Following the completion of the sale, the chief operating officer directly owned 96,987 shares of the company's stock, valued at approximately $16,045,529.28. This trade represents a 35.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 221,303 shares of company stock worth $36,164,034. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Trading Up 2.6%

FTNT opened at $178.74 on Thursday. Fortinet, Inc. has a one year low of $73.55 and a one year high of $179.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The business has a 50 day simple moving average of $160.87 and a two-hundred day simple moving average of $131.24. The firm has a market capitalization of $131.14 billion, a price-to-earnings ratio of 62.94, a PEG ratio of 3.28 and a beta of 1.06.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm's revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts predict that Fortinet, Inc. will post 3.07 EPS for the current year.

Fortinet Profile

Fortinet, Inc develops cybersecurity products and services designed to protect enterprise, small and midsize business, service provider, and government networks. Its portfolio covers network security, endpoint protection, cloud security, secure access service edge (SASE), security operations, and zero-trust access.

The company's offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiManager and FortiAnalyzer management and analytics tools.

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