Fortinet, Inc. $FTNT Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden increased its Fortinet stake by 47.9% in the first quarter, buying 123,050 additional shares and bringing its holdings to 380,130 shares valued at about $31.1 million.
• Insider selling continued, with CEO Ken Xie and VP Michael Xie both selling shares in pre-arranged Rule 10b5-1 trades. Across the last quarter, insiders sold 318,387 shares worth $43.4 million.
• Fortinet reported strong quarterly results, beating estimates with $0.82 EPS and $1.85 billion in revenue, while raising guidance for Q2 2026 and FY 2026. Analysts currently have a consensus Hold rating with a target price of $107.58, even as the stock trades near its 12-month high.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 47.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 380,130 shares of the software maker's stock after acquiring an additional 123,050 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.05% of Fortinet worth $31,064,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new stake in Fortinet during the first quarter worth approximately $989,000. Platform Technology Partners acquired a new stake in shares of Fortinet during the first quarter worth $202,000. Sound Income Strategies LLC boosted its holdings in shares of Fortinet by 17.2% during the first quarter. Sound Income Strategies LLC now owns 1,611 shares of the software maker's stock worth $131,000 after purchasing an additional 237 shares during the last quarter. Prasad Wealth Partners LLC grew its position in shares of Fortinet by 26.1% in the first quarter. Prasad Wealth Partners LLC now owns 7,170 shares of the software maker's stock valued at $586,000 after purchasing an additional 1,485 shares during the period. Finally, Boston Trust Walden Corp grew its position in shares of Fortinet by 0.4% in the first quarter. Boston Trust Walden Corp now owns 379,554 shares of the software maker's stock valued at $31,017,000 after purchasing an additional 1,508 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 of the company's stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FTNT. Susquehanna increased their target price on Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Scotiabank upped their price objective on shares of Fortinet from $85.00 to $110.00 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Stephens set a $115.00 price objective on shares of Fortinet and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Morgan Stanley reissued an "underweight" rating and issued a $80.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Finally, TD Cowen restated a "buy" rating and issued a $160.00 target price (up from $125.00) on shares of Fortinet in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of "Hold" and a consensus target price of $107.58.

Fortinet Price Performance

FTNT stock opened at $156.25 on Friday. The stock has a 50-day moving average price of $128.87 and a two-hundred day moving average price of $97.77. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $159.80. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a market cap of $114.48 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 4.35 and a beta of 1.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. 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, research analysts predict that Fortinet, Inc. will post 2.78 EPS for the current year.

Fortinet 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.

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.