Hsbc Holdings PLC Has $124.79 Million Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• HSBC Holdings PLC cut its Fortinet stake by 24.9% in the fourth quarter, selling 520,648 shares and ending with 1.57 million shares valued at about $124.8 million.
• Fortinet’s recent quarterly results topped expectations, with EPS of $0.82 versus $0.62 expected and revenue of $1.85 billion, up 20.1% year over year. The company also issued Q2 2026 and full-year 2026 guidance.
• Analyst sentiment remains mixed: Fortinet has an overall Hold rating and average price target of $107.77, even as some firms, including Bank of America, raised their targets. Insider selling has also been notable, with the CEO and COO selling shares in recent transactions.

Hsbc Holdings PLC decreased its stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 24.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,569,290 shares of the software maker's stock after selling 520,648 shares during the period. Hsbc Holdings PLC owned 0.21% of Fortinet worth $124,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FTNT. Pinnacle Holdings LLC acquired a new position in Fortinet during the third quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Wexford Capital LP bought a new stake in shares of Fortinet during the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter worth approximately $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at approximately $28,000. Institutional investors own 83.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial set a $120.00 target price on shares of Fortinet and gave the company a "buy" rating in a research note on Thursday, May 7th. Compass Point set a $100.00 price target on shares of Fortinet in a research report on Monday, May 4th. Zacks Research downgraded shares of Fortinet from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Bank of America boosted their price objective on shares of Fortinet from $130.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Finally, BMO Capital Markets upped their target price on shares of Fortinet from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Fortinet presently has an average rating of "Hold" and an average price target of $107.77.

Fortinet Stock Performance

Shares of Fortinet stock opened at $144.73 on Monday. The business has a fifty day simple moving average of $116.11 and a two-hundred day simple moving average of $93.45. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $150.07. The company has a market capitalization of $106.04 billion, a price-to-earnings ratio of 55.88, a P/E/G ratio of 3.96 and a beta of 1.11. 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 (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, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion for 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 company's quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the company earned $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 forecast that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Buying and Selling

In other Fortinet news, COO John Whittle sold 146,015 shares of the firm's 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 $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares of the company's stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. 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 sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company's stock.

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.

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