Fortinet, Inc. $FTNT Shares Purchased by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc sharply increased its Fortinet stake by 3,003% in the first quarter, ending with 259,004 shares valued at about $21.2 million.
• Fortinet reported strong quarterly results, with EPS of $0.82 beating estimates and revenue of $1.85 billion topping expectations; revenue also rose 20.1% year over year.
• Insider activity was mostly negative, as CEO Ken Xie and VP Michael Xie both sold shares under pre-arranged trading plans, while analysts currently rate the stock Hold on average with a consensus target price of $107.77.

AEGON ASSET MANAGEMENT UK Plc grew its position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 3,003.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 259,004 shares of the software maker's stock after purchasing an additional 250,657 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Fortinet were worth $21,166,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bricktown Capital LLC bought a new stake in shares of Fortinet during the first quarter valued at approximately $752,000. Diversified Trust Co grew its holdings in Fortinet by 22.8% in the 1st quarter. Diversified Trust Co now owns 24,347 shares of the software maker's stock worth $1,990,000 after buying an additional 4,526 shares in the last quarter. World Investment Advisors grew its holdings in Fortinet by 15.5% in the 4th quarter. World Investment Advisors now owns 6,150 shares of the software maker's stock worth $488,000 after buying an additional 826 shares in the last quarter. PeakShares LLC acquired a new stake in Fortinet in the 4th quarter valued at approximately $72,000. Finally, Corient Private Wealth LLC increased its position in Fortinet by 58.6% in the 4th quarter. Corient Private Wealth LLC now owns 219,216 shares of the software maker's stock valued at $17,418,000 after acquiring an additional 80,987 shares during the period. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Stock Performance

Shares of FTNT opened at $144.73 on Friday. The firm's 50 day moving average is $116.11 and its 200-day moving average is $93.37. The stock has a market capitalization of $106.04 billion, a P/E ratio of 55.88, a P/E/G ratio of 3.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its 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 business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business earned $0.58 earnings per share. The business's quarterly revenue was up 20.1% on a year-over-year basis. 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 research analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the transaction, the chief executive officer owned 52,972,372 shares of the company's stock, valued at approximately $7,711,717,915.76. 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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company's stock, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. Corporate insiders own 17.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FTNT. Rosenblatt Securities boosted their price target on Fortinet from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Stephens set a $115.00 price target on Fortinet and gave the company an "equal weight" rating in a report on Thursday, May 7th. Truist Financial set a $120.00 price target on Fortinet and gave the company a "buy" rating in a report on Thursday, May 7th. 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. Finally, Robert W. Baird set a $115.00 price objective on shares of Fortinet in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortinet has an average rating of "Hold" and a consensus target price of $107.77.

Fortinet Company Profile

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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