Amundi Grows Position in Fortinet, Inc. $FTNT

Key Points

• Amundi increased its Fortinet position by 23.1% in the second quarter, adding 889,658 shares to own 4.73 million shares worth approximately $727 million. Institutional investors collectively hold 83.71% of FTNT.
• Fortinet exceeded quarterly expectations, reporting $0.90 EPS versus $0.75 expected and $2.05 billion in revenue, up 25.6% year over year. The company issued fiscal 2026 EPS guidance of $3.410–$3.470.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $150.91, below the stock’s $156.29 opening price; recent insider sales were conducted under 10b5-1 plans to cover tax obligations.

Amundi increased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 23.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,732,986 shares of the software maker's stock after purchasing an additional 889,658 shares during the quarter. Amundi owned 0.65% of Fortinet worth $727,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FTNT. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Fortinet in the second quarter valued at approximately $66,986,000. California State Teachers Retirement System boosted its position in shares of Fortinet by 15,545.1% during the second quarter. California State Teachers Retirement System now owns 145,097,777 shares of the software maker's stock worth $22,289,921,000 after buying an additional 144,170,346 shares during the period. Studio Investment Management LLC boosted its position in shares of Fortinet by 40.0% during the second quarter. Studio Investment Management LLC now owns 9,761 shares of the software maker's stock worth $1,499,000 after buying an additional 2,787 shares during the period. Guardian Wealth Advisors LLC NC acquired a new stake in shares of Fortinet in the second quarter valued at $307,000. Finally, Wedmont Private Capital grew its stake in shares of Fortinet by 12.2% in the second quarter. Wedmont Private Capital now owns 10,215 shares of the software maker's stock valued at $1,609,000 after buying an additional 1,114 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fortinet

In other news, VP Michael Xie sold 3,121 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The stock was 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 of the company's stock, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several research reports. HSBC lowered Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 target price on the stock. in a research note on Monday, June 29th. Barclays set a $190.00 target price on Fortinet and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Susquehanna increased their price target on shares of Fortinet from $115.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Stifel Nicolaus set a $175.00 price target on shares of Fortinet and gave the stock a "hold" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company set a $135.00 price objective on shares of Fortinet and gave the company an "underweight" rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $150.91.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $156.29 on Monday. The stock's 50-day moving average is $158.88 and its two-hundred day moving average is $123.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $173.89. The company has a market cap of $114.67 billion, a price-to-earnings ratio of 55.03, a price-to-earnings-growth ratio of 2.96 and a beta of 1.06.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business's quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. 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 forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as a growth-at-a-reasonable-price (GARP) stock, with analysts pointing to its 2026 growth outlook, rising earnings estimates and expanding AI-security opportunity. Zacks.com featured highlights including Fortinet
• Positive Sentiment: Fortinet was also included among founder-led technology companies with long-term innovation and growth potential, reinforcing the investment case around its leadership and strategic direction. Founder-led companies redefining technology and growth
• Positive Sentiment: Multiple Zacks features identify FTNT as a GARP candidate, suggesting analysts view its earnings and revenue prospects as attractive relative to its valuation and peer group. GARP stocks investors can consider
• Positive Sentiment: Fortinet continues to benefit from broader demand for AI-driven cybersecurity. Its latest reported quarter exceeded earnings and revenue estimates, with revenue increasing 25.6% year over year, supporting the bullish outlook.
• Neutral Sentiment: ControlMonkey added backup and disaster-recovery support for Fortinet security configurations. The announcement improves recoverability for customers but appears unlikely to materially affect Fortinet’s near-term financial results. ControlMonkey extends recovery to the security stack
• Negative Sentiment: A sharp reaction to Palo Alto Networks’ results despite strong growth highlighted how demanding investor expectations have become for cybersecurity stocks. That sector-wide valuation risk may be limiting upside for Fortinet even amid favorable company-specific commentary. Cybersecurity stocks react to Palo Alto results

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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