E. Ohman J or Asset Management AB Cuts Stock Position in Fortinet, Inc. $FTNT

Key Points

• E. Ohman J or Asset Management AB reduced its Fortinet stake by 10.3% in the second quarter, selling 29,440 shares and retaining 255,619 shares worth about $39.3 million. Institutional investors collectively own 83.71% of Fortinet.
• Fortinet reported a strong quarter, with earnings of $0.90 per share versus the $0.75 estimate and revenue of $2.05 billion, up 25.6% year over year. The company issued fiscal 2026 EPS guidance of $3.410 to $3.470.
• Analyst sentiment remains mixed: Fortinet has a consensus rating of Hold and an average price target of $150.91, despite shares opening at $164.21. Insiders have sold approximately $69.5 million of stock over the past 90 days.

E. Ohman J or Asset Management AB lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 255,619 shares of the software maker's stock after selling 29,440 shares during the period. Fortinet makes up about 0.9% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 25th largest position. E. Ohman J or Asset Management AB's holdings in Fortinet were worth $39,268,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FTNT. Expressive Wealth LLC bought a new stake in Fortinet during the fourth quarter worth approximately $646,000. Leonteq Securities AG bought a new stake in shares of Fortinet in the 4th quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Fortinet in the 4th quarter worth approximately $14,638,000. Thrivent Financial for Lutherans boosted its holdings in shares of Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker's stock worth $31,009,000 after purchasing an additional 238,299 shares during the period. Finally, Westerkirk Capital Inc. increased its position in shares of Fortinet by 41.9% during the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker's stock valued at $4,169,000 after purchasing an additional 15,500 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FTNT shares. Truist Financial set a $183.00 price target on Fortinet and gave the company a "buy" rating in a report on Tuesday, July 21st. Rosenblatt Securities lifted their price objective on shares of Fortinet from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. HSBC cut shares of Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 price objective on the stock. in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $160.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Finally, UBS Group reaffirmed a "neutral" rating and set a $180.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $150.91.

Fortinet Trading Up 2.9%

NASDAQ FTNT opened at $164.21 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market capitalization of $120.48 billion, a price-to-earnings ratio of 57.82, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07. The company's 50-day simple moving average is $153.88 and its two-hundred day simple moving average is $112.99. Fortinet, Inc. has a one year low of $73.55 and a one year high of $172.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The company's revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Equities analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the company's 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 completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This 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 available at the SEC website. 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, COO John Whittle sold 146,015 shares of the stock in a transaction on 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 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. Insiders sold 475,157 shares of company stock valued at $69,480,964 over the last 90 days. Corporate insiders own 17.60% of the company's stock.

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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