Fortinet, Inc. $FTNT Shares Sold by Fundsmith Investment Services LTD.

Key Points

• Fundsmith Investment Services cut its Fortinet stake by 20.2% in the fourth quarter, selling 461,499 shares and leaving it with 1,818,233 shares worth about $144.4 million.
• Insider selling was notable, with CEO Ken Xie and COO John Whittle both selling large blocks of stock; insiders sold 318,387 shares in the last quarter overall.
• Fortinet recently reported strong quarterly results, beating EPS and revenue estimates, while also issuing Q2 and full-year 2026 guidance; the stock has also drawn mixed analyst sentiment, with an average Hold rating.

Fundsmith Investment Services LTD. lowered its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,818,233 shares of the software maker's stock after selling 461,499 shares during the quarter. Fortinet makes up about 2.6% of Fundsmith Investment Services LTD.'s investment portfolio, making the stock its 16th largest holding. Fundsmith Investment Services LTD. owned approximately 0.24% of Fortinet worth $144,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Expressive Wealth LLC acquired a new stake in shares of Fortinet during the fourth quarter worth approximately $646,000. Trilogy Capital Inc. grew its position in shares of Fortinet by 46.8% during the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock worth $3,506,000 after buying an additional 14,076 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Fortinet during the fourth quarter worth approximately $10,422,000. Thrivent Financial for Lutherans grew its position in shares of Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker's stock worth $31,009,000 after buying an additional 238,299 shares in the last quarter. Finally, North Dakota State Investment Board acquired a new stake in shares of Fortinet during the fourth quarter worth approximately $1,732,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Insider Activity

In other news, CEO Ken Xie sold 160,632 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer owned 52,972,372 shares of the company's stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business's stock in a transaction 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 transaction, the chief operating officer directly owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FTNT. Rosenblatt Securities raised their price target on shares of Fortinet from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Zacks Research downgraded shares of Fortinet from a "strong-buy" rating to a "hold" rating in a report on Friday, June 12th. Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a report on Wednesday, March 11th. Piper Sandler lifted 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. 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 assigned a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $107.77.

Fortinet Stock Performance

Fortinet stock opened at $147.02 on Wednesday. The company has a market cap of $107.71 billion, a PE ratio of 56.76, a P/E/G ratio of 4.09 and a beta of 1.11. The company has a fifty day moving average price of $112.43 and a two-hundred day moving average price of $92.11. 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 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm's revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 earnings per share. 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 expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet launched FortiSOC, a unified, cloud-delivered SOC platform powered by agentic AI, which could strengthen its cybersecurity product lineup and support future revenue growth. Fortinet Launches FortiSOC, a Unified SOC Platform Powered by Agentic AI
• Positive Sentiment: TD Cowen and Cantor Fitzgerald raised their price targets on Fortinet, citing strong security and AI growth prospects, which reinforces a bullish outlook for the stock. TD Cowen and Cantor Fitzgerald Increase Fortinet Price Targets
• Positive Sentiment: At its annual meeting, shareholders backed the board, auditor, and executive pay, reducing governance uncertainty and signaling continued investor support. Fortinet Shareholders Back Board, Auditor and Executive Pay
• Neutral Sentiment: Coverage on FTNT noted the stock underperformed competitors on Tuesday, but the article did not point to a new fundamental problem. Fortinet Inc. stock underperforms Tuesday when compared to competitors
• Neutral Sentiment: Trading-focused articles suggested bullish technical setups and an options strategy targeting upside, but these were largely commentary rather than fresh business news. Fortinet Stock: Aim For A 28% Return With This Strategy On The Cybersecurity Firm

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.

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.