Andra AP fonden Sells 187,320 Shares of Fortinet, Inc. $FTNT

Andra AP fonden lessened its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 43.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 243,800 shares of the software maker's stock after selling 187,320 shares during the quarter. Andra AP fonden's holdings in Fortinet were worth $19,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Holdings LLC bought a new stake in shares of Fortinet during the third quarter worth $25,000. Ameriflex Group Inc. bought a new stake in shares of Fortinet during the third quarter worth $25,000. Wexford Capital LP bought a new stake in shares of Fortinet during the third quarter worth $25,000. Elyxium Wealth LLC bought a new stake in shares of Fortinet during the fourth quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Fortinet during the third quarter worth $28,000. Institutional investors own 83.71% of the company's stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $145.06 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $150.07. The stock has a market cap of $106.28 billion, a price-to-earnings ratio of 56.01, a P/E/G ratio of 3.80 and a beta of 1.11. The company's fifty day moving average is $108.50 and its 200 day moving average is $90.69.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Fortinet's revenue for the quarter 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. Sell-side analysts forecast that Fortinet, Inc. will post 2.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FTNT shares. UBS Group boosted their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Robert W. Baird set a $115.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Rosenblatt Securities boosted their target price on shares of Fortinet from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Mizuho boosted their price objective on shares of Fortinet from $70.00 to $86.00 and gave the stock an "underperform" rating in a research note on Thursday, May 7th. Finally, DZ Bank cut shares of Fortinet from a "buy" rating to a "hold" rating and set a $125.00 price objective on the stock. in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $106.43.

Insider Buying and Selling at Fortinet

In other Fortinet 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 sale, the chief executive officer 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 shares were 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 in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by insiders.

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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