Forsta AP Fonden Increases Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• Forsta AP Fonden boosted its Fortinet stake by 34.3% in the fourth quarter, adding 80,200 shares to reach 313,900 shares valued at about $24.9 million.
• Fortinet shares were up 6.4% and recently traded near their 52-week high of $138.11, supported by a strong financial profile that includes a $101.08 billion market cap and solid liquidity ratios.
• The company reported better-than-expected Q1 results, with EPS of $0.82 versus $0.62 expected and revenue of $1.85 billion, while also issuing Q2 and full-year 2026 guidance above current-year analyst expectations.

Forsta AP Fonden increased its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 313,900 shares of the software maker's stock after purchasing an additional 80,200 shares during the period. Forsta AP Fonden's holdings in Fortinet were worth $24,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTNT. Pinnacle Holdings LLC acquired a new position in Fortinet in the third quarter valued at $25,000. Ameriflex Group Inc. acquired a new position in Fortinet in the third quarter valued at $25,000. Wexford Capital LP acquired a new position in Fortinet in the third quarter valued at $25,000. Elyxium Wealth LLC acquired a new position in Fortinet in the fourth quarter valued at $27,000. Finally, Palisade Asset Management LLC acquired a new position in Fortinet in the third quarter valued at $28,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Stock Up 6.4%

Shares of FTNT opened at $137.97 on Friday. The stock has a market cap of $101.08 billion, a price-to-earnings ratio of 53.27, a P/E/G ratio of 3.80 and a beta of 0.92. 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 12 month low of $70.12 and a 12 month high of $138.11. The company has a 50-day moving average price of $96.96 and a two-hundred day moving average price of $86.62.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities analysts predict that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Sanford C. Bernstein reiterated a "market perform" rating and issued a $83.00 target price on shares of Fortinet in a report on Friday, February 6th. Arete Research set a $104.00 target price on Fortinet and gave the company a "buy" rating in a report on Monday, April 27th. Robert W. Baird set a $115.00 target price on Fortinet in a report on Thursday, May 7th. Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Fortinet from $73.00 to $75.00 and gave the stock an "underweight" rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $102.69.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 5,355 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the completion of the sale, the chief executive officer owned 52,978,004 shares of the company's stock, valued at approximately $4,709,744,555.60. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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, VP Michael Xie sold 2,478 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the sale, the vice president directly owned 9,927,517 shares of the company's stock, valued at approximately $882,456,986.13. This represents a 0.02% decrease in their position. 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. Over the last 90 days, insiders sold 153,848 shares of company stock valued at $19,446,115. 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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