Krane Funds Advisors LLC Purchases Shares of 19,200 Fortinet, Inc. $FTNT

Key Points

• Krane Funds Advisors LLC opened a new position in Fortinet during the fourth quarter, buying 19,200 shares valued at about $1.53 million.
• Institutional interest in Fortinet remains elevated, with several other funds adding shares and 83.71% of the stock now held by institutional investors and hedge funds.
• Fortinet’s latest quarterly results beat expectations, and management raised full-year guidance, while analysts currently rate the stock a consensus Hold with a price target of $102.69.

Krane Funds Advisors LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,200 shares of the software maker's stock, valued at approximately $1,525,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Syon Capital LLC grew its holdings in Fortinet by 59.6% in the 4th quarter. Syon Capital LLC now owns 10,336 shares of the software maker's stock valued at $821,000 after buying an additional 3,861 shares during the period. ING Groep NV grew its holdings in Fortinet by 91.6% in the fourth quarter. ING Groep NV now owns 245,559 shares of the software maker's stock valued at $19,500,000 after purchasing an additional 117,412 shares during the period. Capital World Investors acquired a new position in Fortinet during the fourth quarter worth approximately $100,256,000. Havemeyer Place LP acquired a new position in shares of Fortinet in the 4th quarter valued at $1,069,000. Finally, 111 Capital grew its stake in shares of Fortinet by 87.2% during the 4th quarter. 111 Capital now owns 9,399 shares of the software maker's stock valued at $746,000 after buying an additional 4,379 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FTNT shares. Mizuho increased their target price on Fortinet from $70.00 to $86.00 and gave the stock an "underperform" rating in a research report on Thursday, May 7th. Stifel Nicolaus set a $85.00 price objective on Fortinet in a research note on Wednesday, March 11th. Barclays set a $115.00 target price on Fortinet and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Wells Fargo & Company restated an "underweight" rating and issued a $70.00 price target (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Finally, Freedom Capital cut shares of Fortinet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Fortinet has an average rating of "Hold" and a consensus price target of $102.69.

Trending Headlines about Fortinet

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.

Fortinet Stock Performance

FTNT opened at $144.68 on Monday. The firm has a market capitalization of $106.00 billion, a P/E ratio of 55.86, a P/E/G ratio of 3.96 and a beta of 1.11. The firm's 50 day moving average is $103.59 and its 200-day moving average is $88.94. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping 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 firm's quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts expect that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the company'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 transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares of the company's stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is currently owned by corporate insiders.

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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