Amundi Increases Stock Position in Fortinet, Inc. $FTNT

Amundi increased its stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 6.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,843,328 shares of the software maker's stock after acquiring an additional 221,682 shares during the period. Amundi owned about 0.52% of Fortinet worth $314,077,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wexford Capital LP purchased a new stake in Fortinet during the 3rd quarter valued at about $25,000. Physician Wealth Advisors Inc. increased its stake in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after purchasing an additional 245 shares during the period. Palisade Asset Management LLC bought a new stake in Fortinet in the third quarter valued at approximately $28,000. Elyxium Wealth LLC bought a new stake in Fortinet in the fourth quarter valued at approximately $27,000. Finally, Maseco LLP purchased a new stake in shares of Fortinet during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on FTNT. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $160.00 target price on shares of Fortinet in a research note on Thursday, July 16th. Stephens set a $115.00 price target on shares of Fortinet and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Arete Research set a $104.00 price target on shares of Fortinet and gave the stock a "buy" rating in a report on Monday, April 27th. Truist Financial set a $183.00 price objective on shares of Fortinet and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, Zacks Research raised shares of Fortinet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Fortinet presently has an average rating of "Hold" and a consensus target price of $123.61.

Fortinet Stock Up 2.2%

Shares of Fortinet stock opened at $153.22 on Thursday. The company has a 50-day simple moving average of $149.45 and a two-hundred day simple moving average of $108.19. The stock has a market capitalization of $112.26 billion, a PE ratio of 59.16, a price-to-earnings-growth ratio of 4.08 and a beta of 1.09. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $170.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm's quarterly revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, analysts anticipate that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Michael Xie sold 3,907 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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. 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. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q2 results surpassed estimates. Fortinet reported $2.05 billion in revenue, up 26% year over year and above the $1.89 billion consensus estimate. Adjusted EPS was $0.90 versus expectations of $0.75, while GAAP diluted EPS rose to $0.82 from $0.57 a year earlier. Fortinet Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Product momentum accelerated. Product revenue jumped 52% to $773 million, billings increased 33% to $2.37 billion, and the company generated $1.04 billion in operating cash flow and $966 million in free cash flow. Management cited strong enterprise demand amid rising cybersecurity threats. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Fortinet raised its 2026 outlook. Full-year revenue guidance increased to $8.02 billion-$8.18 billion, compared with the prior outlook of approximately $8.0 billion-$8.2 billion as reported in the company’s updated guidance, and the company projected adjusted EPS of $3.41-$3.47 versus the $3.08 analyst consensus. Third-quarter revenue guidance of $2.01 billion-$2.10 billion and EPS guidance of $0.83-$0.87 also exceeded consensus estimates. Fortinet Reports Strong Second Quarter 2026 Financial Results
• Neutral Sentiment: Fortinet also expanded its FortiGate G Series with the 1200G and FortiSASE Outpost, supporting its strategy of combining networking, firewall and cloud-delivered security services. Fortinet Expands FortiGate G Series
• Negative Sentiment: Valuation remains a risk after the strong rally: Fortinet trades at a high earnings multiple, and Wells Fargo maintained a Sell rating. In addition, reported insider activity showed executives selling shares without recorded purchases in the past six months, which may temper bullish sentiment.

About Fortinet

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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