Fortinet, Inc. $FTNT Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer cut its Fortinet stake by 93.2% in the fourth quarter, selling 174,525 shares and leaving it with 12,714 shares worth about $1.01 million.
• Fortinet reported strong quarterly results, with EPS of $0.82 and revenue of $1.85 billion, both beating estimates. Revenue rose 20.1% year over year, and the company raised guidance for fiscal 2026.
• Analysts and insiders remain active: several firms raised price targets or upgraded the stock after the earnings beat, while CEO Ken Xie and VP Michael Xie both sold shares under pre-arranged trading plans for tax withholding purposes.

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 93.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,714 shares of the software maker's stock after selling 174,525 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Fortinet were worth $1,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FTNT. Vanguard Group Inc. raised its stake in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker's stock valued at $6,354,874,000 after acquiring an additional 2,894,355 shares during the period. State Street Corp raised its stake in shares of Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker's stock valued at $2,493,860,000 after acquiring an additional 477,397 shares during the period. Invesco Ltd. raised its stake in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker's stock valued at $909,453,000 after acquiring an additional 1,568,337 shares during the period. First Trust Advisors LP raised its stake in shares of Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker's stock valued at $636,962,000 after acquiring an additional 1,790,033 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Fortinet by 4.7% in the 3rd quarter. Legal & General Group Plc now owns 6,115,450 shares of the software maker's stock valued at $514,187,000 after acquiring an additional 273,428 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Price Performance

Shares of FTNT opened at $122.78 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $123.33. The firm's 50 day moving average price is $87.51 and its 200 day moving average price is $83.37. The company has a market cap of $89.95 billion, a P/E ratio of 47.41, a PEG ratio of 3.38 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping 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 the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $0.58 EPS. The firm's revenue for the quarter 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. On average, research analysts forecast that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 5,355 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares of the company's stock, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 2,478 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the sale, the vice president directly owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This represents a 0.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 17.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FTNT. Susquehanna boosted their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. BTIG Research raised shares of Fortinet from a "neutral" rating to a "buy" rating and set a $125.00 price target on the stock in a research note on Thursday, May 7th. Truist Financial set a $120.00 price target on shares of Fortinet and gave the company a "buy" rating in a research note on Thursday, May 7th. Barclays set a $115.00 price target on shares of Fortinet and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Finally, Arete Research set a $104.00 price target on shares of Fortinet and gave the company a "buy" rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $100.45.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Zacks highlighted Fortinet as one of several security stocks benefiting from surging demand for cybersecurity solutions as companies accelerate digital transformation and cloud migration. 4 Security Stocks to Focus on From a Flourishing Industry
• Positive Sentiment: Scotiabank raised its FY2026 EPS estimate for Fortinet to $2.76 from $2.62, which can support investor confidence in earnings power even though the firm kept a Sector Perform rating and a $110 target.
• Positive Sentiment: Multiple market write-ups pointed to Fortinet’s strong Q1 beat, AI-driven demand, and institutional buying as reasons the stock has maintained strong momentum after earnings. Fortinet Stock's Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
• Neutral Sentiment: Scotiabank also trimmed its FY2027 EPS estimate to $2.95 from $3.02, which is a mild headwind but not enough to offset the more upbeat near-term outlook.
• Neutral Sentiment: Fortinet was mentioned in broader cybersecurity and market commentary alongside peers such as CrowdStrike and Okta, reinforcing sector strength rather than providing company-specific news.

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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