Ilmarinen Mutual Pension Insurance Co Sells 12,794 Shares of Fortinet, Inc. $FTNT

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its Fortinet stake by 8.2% in the fourth quarter, selling 12,794 shares and leaving it with 144,066 shares valued at about $11.44 million.
• Fortinet reported strong quarterly results, 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 and FY 2026 guidance above many expectations.
• Insider selling and analyst views were mixed: CEO Ken Xie and COO John Whittle recently sold shares, while Wall Street’s consensus rating remains “Hold” with a target price of $102.69.

Ilmarinen Mutual Pension Insurance Co lessened its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,066 shares of the software maker's stock after selling 12,794 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Fortinet were worth $11,440,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC bought a new position in Fortinet during the 3rd quarter worth $25,000. Ameriflex Group Inc. bought a new position in Fortinet during the 3rd quarter worth $25,000. Wexford Capital LP bought a new position in Fortinet during the 3rd quarter worth $25,000. Elyxium Wealth LLC bought a new position in Fortinet during the 4th quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new position in Fortinet during the 3rd quarter worth $28,000. Institutional investors own 83.71% of the company's stock.

Fortinet Trading Up 1.4%

Shares of FTNT stock opened at $129.70 on Friday. The stock's fifty day moving average price is $95.87 and its two-hundred day moving average price is $86.26. The company has a market cap of $95.02 billion, a PE ratio of 50.08, a P/E/G ratio of 3.52 and a beta of 0.92. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $134.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS 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 during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the company earned $0.58 EPS. Fortinet's revenue 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. Equities analysts predict that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the sale, the chief executive officer owned 52,978,004 shares of the company's stock, valued at $4,709,744,555.60. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following 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 SEC filing for this sale provides additional information. Insiders have sold a total of 153,848 shares of company stock valued at $19,446,115 in the last 90 days. 17.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of recent research reports. Royal Bank Of Canada restated a "sector perform" rating and set a $107.00 price objective (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on Fortinet from $73.00 to $75.00 and gave the company an "underweight" rating in a report on Thursday, May 7th. Rosenblatt Securities raised their target price on Fortinet from $105.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Finally, Robert W. Baird set a $115.00 target price on Fortinet in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, Fortinet presently has a consensus rating of "Hold" and a consensus target price of $102.69.

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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