Leonteq Securities AG Buys Shares of 131,242 Fortinet, Inc. $FTNT

Key Points

• Leonteq Securities AG initiated a new position in Fortinet during the fourth quarter, buying 131,242 shares worth about $10.4 million. The stake represents roughly 0.3% of Leonteq’s portfolio and ranks as its 25th largest holding.
• Institutional ownership in Fortinet remains very high, with several other funds also adding to positions, and about 83.71% of the stock is held by institutions and hedge funds. Recent insider sales by CEO Ken Xie and VP Michael Xie were tied to tax withholding from vesting equity awards.
• Fortinet reported better-than-expected Q1 results, with EPS of $0.82 versus $0.62 expected and revenue of $1.85 billion versus $1.73 billion expected. The company also raised guidance for Q2 and FY2026, though analysts still hold a consensus “Hold” rating with a $101.83 price target.

Leonteq Securities AG bought a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 131,242 shares of the software maker's stock, valued at approximately $10,422,000. Fortinet makes up about 0.3% of Leonteq Securities AG's portfolio, making the stock its 25th largest holding.

Several other institutional investors also recently bought and sold shares of FTNT. Allstate Corp acquired a new stake in shares of Fortinet in the third quarter valued at about $2,034,000. Trilogy Capital Inc. boosted its holdings in Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock valued at $3,506,000 after purchasing an additional 14,076 shares during the last quarter. Machina Capital S.A.S. acquired a new position in Fortinet in the 3rd quarter valued at about $1,177,000. Victory Capital Management Inc. boosted its holdings in Fortinet by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker's stock valued at $138,874,000 after purchasing an additional 90,284 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in Fortinet by 22.3% in the 3rd quarter. Penserra Capital Management LLC now owns 1,356,122 shares of the software maker's stock valued at $114,021,000 after purchasing an additional 246,844 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FTNT shares. DZ Bank downgraded shares of Fortinet from a "buy" rating to a "hold" rating and set a $125.00 price target on the stock. in a research note on Tuesday. Jefferies Financial Group set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. Wedbush reaffirmed an "outperform" rating and set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. BTIG Research raised shares of Fortinet from a "neutral" rating to a "buy" rating and set a $125.00 target price on the stock in a research note on Thursday, May 7th. Finally, Mizuho upped their target price on shares of Fortinet from $70.00 to $86.00 and gave the stock an "underperform" rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $101.83.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 2,478 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares in the company, valued at $882,456,986.13. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed 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, CEO Ken Xie sold 5,355 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 17.60% of the company's stock.

Fortinet Stock Up 1.8%

Shares of NASDAQ:FTNT opened at $130.00 on Thursday. The stock has a market cap of $95.24 billion, a P/E ratio of 50.19, a P/E/G ratio of 3.51 and a beta of 0.92. The firm has a fifty day moving average price of $90.16 and a 200 day moving average price of $84.27. 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 1-year low of $70.12 and a 1-year high of $130.36.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share 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 analysts' expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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. Sell-side analysts predict that Fortinet, Inc. will post 2.77 EPS for the current year.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest earnings call was described as upbeat, with AI-led demand helping lift the company’s guidance and reinforcing the view that security spending remains strong. Fortinet Rides AI-Led Surge to Lift Guidance
• Positive Sentiment: Analysts and market commentary highlighted Fortinet as a strong momentum name, with AI and SASE demand supporting billings, margins, and estimate revisions. Here's Why Fortinet (FTNT) is a Strong Momentum Stock
• Positive Sentiment: Additional coverage argued Fortinet looks like the better cybersecurity buy versus peers, citing accelerating AI-driven security demand and improving fundamentals. Zscaler vs. Fortinet: Which Cybersecurity Stock Is the Better Buy?
• Neutral Sentiment: Fortinet also presented at J.P. Morgan’s Technology, Media and Communications Conference, which kept investor attention on management’s outlook but did not introduce a clearly new catalyst. Fortinet, Inc. (FTNT) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Negative Sentiment: DZ Bank downgraded Fortinet from Buy to Hold and set a $125 price target, suggesting some upside may be limited after the recent run-up in the stock. Fortinet downgrade news

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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