Fortinet, Inc. $FTNT Shares Bought by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Fortinet stake by 11.7% in the first quarter, buying 34,499 additional shares and bringing its total holdings to 328,975 shares worth about $26.9 million.
• Fortinet reported better-than-expected Q1 earnings, posting $0.82 EPS versus $0.62 expected and revenue of $1.85 billion, up 20.1% year over year. The company also issued Q2 and full-year 2026 guidance above prior estimates.
• Despite strong results, sentiment is mixed: analysts’ average rating remains Hold, and insiders have sold shares recently, including COO John Whittle and VP Michael Xie.

Candriam S.C.A. lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,975 shares of the software maker's stock after purchasing an additional 34,499 shares during the quarter. Candriam S.C.A.'s holdings in Fortinet were worth $26,884,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Expressive Wealth LLC acquired a new stake in Fortinet in the fourth quarter valued at approximately $646,000. Trilogy Capital Inc. lifted its position in shares of Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock valued at $3,506,000 after buying an additional 14,076 shares in the last quarter. Leonteq Securities AG acquired a new stake in Fortinet in the 4th quarter valued at $10,422,000. Eurizon Capital SGR S.p.A. purchased a new stake in Fortinet in the 4th quarter worth $14,638,000. Finally, Thrivent Financial for Lutherans raised its position in Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker's stock worth $31,009,000 after acquiring an additional 238,299 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Price Performance

Shares of FTNT stock traded down $6.22 during trading hours on Friday, reaching $157.51. The company had a trading volume of 3,518,279 shares, compared to its average volume of 5,833,056. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $165.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market capitalization of $115.40 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 4.28 and a beta of 1.09. The stock has a fifty day moving average of $137.74 and a 200-day moving average of $100.94.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The firm's revenue for the quarter was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, equities analysts anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FTNT shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 target price on shares of Fortinet in a research report on Tuesday, April 21st. Piper Sandler lifted their price objective on Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. BTIG Research boosted their price objective on Fortinet from $150.00 to $186.00 and gave the stock a "buy" rating in a research note on Friday. Scotiabank increased their target price on Fortinet from $85.00 to $110.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $107.00 price target (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $108.74.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 94,724 shares of the company's stock, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock worth $43,403,063 in the last ninety days. 17.60% of the stock is owned by 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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