ABN AMRO Bank N.V. Sells 275,456 Shares of Fortinet, Inc. $FTNT

Key Points

• ABN AMRO Bank N.V. sharply cut its Fortinet stake in the first quarter, selling 275,456 shares and reducing its position by 98.7% to just 3,550 shares worth about $286,000.
• Fortinet reported better-than-expected Q1 earnings, posting $0.82 EPS on revenue of $1.85 billion, both above analyst estimates, while revenue rose 20.1% year over year. The company also issued Q2 2026 and FY 2026 guidance above prior expectations.
• Despite strong fundamentals, insider selling has been notable, with CEO Ken Xie and COO John Whittle among recent sellers. Analysts remain mixed overall, with MarketBeat’s average rating on the stock at Hold and an average price target of $107.77.

ABN AMRO Bank N.V. reduced its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 98.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,550 shares of the software maker's stock after selling 275,456 shares during the quarter. ABN AMRO Bank N.V.'s holdings in Fortinet were worth $286,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FTNT. Maridea Wealth Management LLC grew its holdings in shares of Fortinet by 50.6% during the first quarter. Maridea Wealth Management LLC now owns 10,044 shares of the software maker's stock valued at $821,000 after buying an additional 3,375 shares during the last quarter. J2 Capital Management Inc increased its stake in Fortinet by 6.9% in the 1st quarter. J2 Capital Management Inc now owns 11,958 shares of the software maker's stock valued at $977,000 after buying an additional 775 shares during the last quarter. Maseco LLP purchased a new stake in Fortinet in the 1st quarter valued at about $29,000. OLD National Bancorp IN lifted its position in shares of Fortinet by 5.6% during the 1st quarter. OLD National Bancorp IN now owns 229,509 shares of the software maker's stock worth $18,755,000 after buying an additional 12,077 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Fortinet during the 1st quarter worth approximately $6,603,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $151.35 on Monday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $152.77. The business has a 50-day simple moving average of $123.02 and a two-hundred day simple moving average of $95.70. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company has a market cap of $110.89 billion, a P/E ratio of 58.44, a P/E/G ratio of 4.14 and a beta of 1.11.

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, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The company'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. Research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The stock was 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 owned 52,972,372 shares of the company's stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Fortinet stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FTNT shares. Zacks Research lowered Fortinet from a "strong-buy" rating to a "hold" rating in a report on Friday, June 12th. Bank of America lifted their price target on Fortinet from $130.00 to $180.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Morgan Stanley restated an "underweight" rating and set a $80.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Weiss Ratings upgraded Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. Finally, Wells Fargo & Company reissued an "underweight" rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Fortinet has an average rating of "Hold" and an average target price of $107.77.

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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