Fortinet, Inc. $FTNT Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 568.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 333,307 shares of the software maker's stock after acquiring an additional 283,439 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Fortinet were worth $26,468,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FTNT. Pinnacle Holdings LLC purchased a new position in Fortinet in the third quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new position in Fortinet in the third quarter valued at approximately $25,000. Wexford Capital LP purchased a new position in Fortinet in the third quarter valued at approximately $25,000. Elyxium Wealth LLC purchased a new position in Fortinet in the fourth quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC purchased a new position in Fortinet in the third quarter valued at approximately $28,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Fortinet Stock Down 3.3%

Fortinet stock opened at $144.68 on Friday. The company has a 50-day simple moving average of $103.59 and a 200-day simple moving average of $88.89. The firm has a market capitalization of $106.00 billion, a P/E ratio of 55.86, a P/E/G ratio of 4.10 and a beta of 1.11. 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, Inc. has a one year low of $70.12 and a one year high of $150.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company's quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm 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. As a group, equities analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an "underweight" rating in a research note on Thursday, May 7th. Stephens set a $115.00 price objective on shares of Fortinet and gave the company an "equal weight" rating in a research note on Thursday, May 7th. UBS Group lifted their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Rosenblatt Securities lifted their price target 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. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price target on shares of Fortinet in a research note on Tuesday, April 21st. Two investment 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 company. Based on data from MarketBeat, Fortinet presently has an average rating of "Hold" and a consensus target price of $102.69.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,907 shares of the company's stock in a transaction dated 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 sale, the vice president directly owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated 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 completion of the sale, the chief operating officer directly owned 94,724 shares of the company's stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 318,387 shares of company stock valued at $43,403,063 over the last 90 days. 17.60% of the stock is currently owned by company insiders.

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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