Fortinet, Inc. $FTNT Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt boosted its Fortinet stake by 214.9% in the fourth quarter, ending with 16,412 shares worth about $1.3 million.
• Analysts remain cautious overall on Fortinet, with a consensus rating of “Hold” and an average price target of $102.69, even as several firms recently raised their targets.
• Fortinet’s latest quarter beat expectations, reporting $0.82 EPS and $1.85 billion in revenue, while raising guidance for Q2 2026 and full-year 2026.

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 214.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,412 shares of the software maker's stock after purchasing an additional 11,200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Fortinet were worth $1,303,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet during the 3rd quarter worth about $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Wexford Capital LP purchased a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth about $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Fortinet during the 3rd quarter worth about $28,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FTNT. JPMorgan Chase & Co. increased their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, May 7th. Weiss Ratings lowered shares of Fortinet from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 19th. Piper Sandler increased their price objective on shares of Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Morgan Stanley reiterated an "underweight" rating and set a $80.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Finally, Compass Point set a $100.00 price target on shares of Fortinet in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Fortinet has an average rating of "Hold" and a consensus target price of $102.69.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
• Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
• Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
• Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
• Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Insider Activity

In other news, 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 owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred 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 owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 318,387 shares of company stock worth $43,403,063 over the last 90 days. Company insiders own 17.60% of the company's stock.

Fortinet Trading Up 2.2%

NASDAQ FTNT opened at $149.67 on Friday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07. The company's 50 day moving average price is $102.28 and its 200 day moving average price is $88.50. 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 firm has a market capitalization of $109.66 billion, a price-to-earnings ratio of 57.79, a PEG ratio of 4.01 and a beta of 1.11.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating 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 firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $0.58 earnings per share. Fortinet'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, sell-side analysts predict that Fortinet, Inc. will post 2.78 EPS for the current year.

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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