Handelsbanken Fonder AB Trims Stock Position in Fortinet, Inc. $FTNT

Key Points

• Handelsbanken Fonder AB reduced its Fortinet position by 10.8% in the second quarter, selling 26,752 shares and retaining 220,001 shares worth approximately $33.8 million. Institutional investors collectively own 83.71% of FTNT.
• Fortinet reported strong quarterly results, with adjusted EPS of $0.90 beating estimates by $0.15 and revenue of $2.05 billion rising 25.6% year over year. The company issued fiscal 2026 EPS guidance of $3.410–$3.470.
• FTNT recently traded at $161.89, near its 12-month high, while insiders sold 475,157 shares worth $69.5 million over the past quarter. Analysts’ average rating is “Hold”, with an average price target of $150.91.

Handelsbanken Fonder AB cut its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,001 shares of the software maker's stock after selling 26,752 shares during the quarter. Handelsbanken Fonder AB's holdings in Fortinet were worth $33,797,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FTNT. Physician Wealth Advisors Inc. increased its position in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after buying an additional 245 shares in the last quarter. Wexford Capital LP acquired a new position in shares of Fortinet in the third quarter worth $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fortinet in the fourth quarter valued at $27,000. Palisade Asset Management LLC purchased a new stake in shares of Fortinet in the third quarter valued at $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Fortinet during the fourth quarter valued at $29,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, COO John Whittle sold 146,015 shares of Fortinet 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 completion of the transaction, the chief operating officer owned 94,724 shares in the company, 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 475,157 shares of company stock valued at $69,480,964. Insiders own 17.60% of the company's stock.

Fortinet Stock Down 1.4%

FTNT opened at $161.89 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The stock has a market capitalization of $118.78 billion, a price-to-earnings ratio of 57.00, a price-to-earnings-growth ratio of 3.11 and a beta of 1.07. The business has a 50-day moving average of $154.14 and a two-hundred day moving average of $113.59. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company's revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, research analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of recent research reports. Compass Point set a $100.00 price objective on Fortinet in a research report on Monday, May 4th. Citigroup lifted their price target on shares of Fortinet from $165.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Evercore set a $165.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Bank of America restated a "buy" rating on shares of Fortinet in a research report on Monday, July 27th. Finally, Mizuho set a $125.00 target price on shares of Fortinet and gave the stock an "underperform" rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Fortinet has an average rating of "Hold" and an average target price of $150.91.

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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