Leonteq Securities AG Lowers Stake in Fortinet, Inc. $FTNT

Leonteq Securities AG reduced its stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 62.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,839 shares of the software maker's stock after selling 82,403 shares during the period. Leonteq Securities AG's holdings in Fortinet were worth $3,991,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FTNT. Norges Bank purchased a new stake in Fortinet in the fourth quarter worth about $1,152,917,000. Van ECK Associates Corp increased its position in Fortinet by 38.9% during the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker's stock valued at $613,915,000 after purchasing an additional 2,166,396 shares during the period. First Trust Advisors LP increased its position in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker's stock valued at $636,962,000 after purchasing an additional 1,790,033 shares during the period. AQR Capital Management LLC raised its holdings in shares of Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker's stock valued at $326,297,000 after purchasing an additional 1,777,115 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker's stock worth $909,453,000 after purchasing an additional 1,568,337 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael Xie sold 3,907 shares of the firm's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction dated 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 directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 over the last ninety days. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several recent research reports. Rosenblatt Securities increased their target price on Fortinet from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. UBS Group boosted their price target on Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Citigroup upped their price objective on Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price objective on shares of Fortinet in a research report on Tuesday, April 21st. Finally, Barclays set a $155.00 target price on Fortinet and gave the company an "equal weight" rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $107.58.

Fortinet Stock Performance

Shares of Fortinet stock opened at $156.25 on Friday. The company has a 50 day moving average price of $128.87 and a 200 day moving average price of $97.77. The firm has a market capitalization of $114.48 billion, a P/E ratio of 60.33, a PEG ratio of 4.35 and a beta of 1.09. 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 $159.80.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm 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. Sell-side analysts expect that Fortinet, Inc. will post 2.78 EPS for the current year.

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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