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

Key Points

• Fjarde AP Fonden cut its Fortinet stake by 10.1% in the fourth quarter, selling 28,800 shares and leaving it with 257,080 shares worth about $20.4 million.
• Fortinet’s latest quarterly results beat Wall Street estimates, with EPS of $0.82 and revenue of $1.85 billion, and the company also raised its full-year 2026 guidance.
• The stock has rallied sharply, trading near its 52-week high, while analysts remain cautious overall with a consensus rating of “Hold” despite multiple recent price-target increases.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 257,080 shares of the software maker's stock after selling 28,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Fortinet were worth $20,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet during the third quarter worth about $25,000. Ameriflex Group Inc. acquired a new stake in shares of Fortinet during the third quarter worth about $25,000. Wexford Capital LP acquired a new stake in shares of Fortinet during the third quarter worth about $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fortinet during the fourth quarter worth about $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Fortinet during the third quarter worth about $28,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Insider Buying and Selling at Fortinet

In other news, 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 completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by corporate insiders.

Fortinet Price Performance

Shares of FTNT opened at $144.68 on Friday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $150.07. The stock's 50 day moving average is $103.59 and its two-hundred day moving average is $88.89. The firm has a market capitalization of $106.00 billion, a PE ratio of 55.86, a P/E/G ratio of 3.96 and a beta of 1.11. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating 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 earned $0.58 EPS. 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. Research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of research reports. Weiss Ratings lowered Fortinet from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 19th. Truist Financial set a $120.00 price target on Fortinet and gave the stock a "buy" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on Fortinet from $73.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, May 7th. Piper Sandler raised their price target on Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Finally, Stephens set a $115.00 price target on Fortinet and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortinet currently has a consensus rating of "Hold" and an average target price of $102.69.

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.

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.