Nykredit A S Makes New $46.62 Million Investment in Fortinet, Inc. $FTNT

Key Points

• Nykredit A/S acquired 303,490 Fortinet shares during the second quarter, worth approximately $46.6 million. Institutional investors and hedge funds collectively own 83.71% of Fortinet.
• Fortinet reported strong quarterly results, with adjusted EPS of $0.90 versus the $0.75 consensus estimate and revenue of $2.05 billion, up 25.6% year over year.
• Analyst sentiment remains cautious: Fortinet has a consensus rating of “Hold” and an average price target of $150.91, below the cited share price of $154.54. Recent insider sales were conducted under pre-arranged plans to cover tax obligations.

Nykredit A S bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 303,490 shares of the software maker's stock, valued at approximately $46,622,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FTNT. Physician Wealth Advisors Inc. grew its position in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock valued at $25,000 after buying an additional 245 shares during the last quarter. Dunhill Financial LLC bought a new position in Fortinet in the second quarter worth about $25,000. Burk Holdings LLC bought a new position in Fortinet in the second quarter worth about $25,000. Wexford Capital LP acquired a new position in Fortinet in the third quarter valued at approximately $25,000. Finally, Elyxium Wealth LLC acquired a new position in Fortinet in the fourth quarter valued at approximately $27,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Performance

Shares of FTNT stock opened at $154.54 on Thursday. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $173.89. The firm has a market capitalization of $113.39 billion, a price-to-earnings ratio of 54.42, a price-to-earnings-growth ratio of 3.07 and a beta of 1.06. The business has a 50 day simple moving average of $158.65 and a 200 day simple moving average of $122.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm earned $0.64 EPS. The firm's revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $160.00 price target on shares of Fortinet in a report on Thursday, July 30th. DZ Bank downgraded Fortinet from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Weiss Ratings cut Fortinet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, August 20th. Wolfe Research set a $175.00 target price on Fortinet in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of Fortinet in a report on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Fortinet presently has an average rating of "Hold" and a consensus target price of $150.91.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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, VP Michael Xie sold 3,121 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president directly owned 9,918,360 shares of the company's stock, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their position. 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. 17.60% of the stock is owned by insiders.

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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