Royal London Asset Management Ltd. Sells 24,154 Shares of Fortinet, Inc. $FTNT

Royal London Asset Management Ltd. lowered its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,047,940 shares of the software maker's stock after selling 24,154 shares during the period. Royal London Asset Management Ltd. owned about 0.14% of Fortinet worth $83,217,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Expressive Wealth LLC purchased a new position in Fortinet during the fourth quarter worth about $646,000. Trilogy Capital Inc. boosted its position in Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock valued at $3,506,000 after buying an additional 14,076 shares during the period. Leonteq Securities AG bought a new position in Fortinet in the 4th quarter worth $10,422,000. Victory Capital Management Inc. raised its stake in Fortinet by 5.8% in the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker's stock worth $138,874,000 after buying an additional 90,284 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Fortinet during the fourth quarter valued at approximately $14,638,000. Institutional investors own 83.71% of the company's stock.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $146.30 on Friday. The firm's 50-day moving average price is $109.80 and its 200-day moving average price is $91.08. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company has a market cap of $107.19 billion, a PE ratio of 56.49, a PEG ratio of 3.97 and a beta of 1.11. 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 announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last 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. As a group, analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael Xie sold 3,907 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% 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. Over the last quarter, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FTNT. Weiss Ratings upgraded shares of Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Freedom Capital lowered shares of Fortinet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. UBS Group raised their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Robert W. Baird set a $115.00 price objective on shares of Fortinet in a research note on Thursday, May 7th. Finally, Bank of America raised their price objective on shares of Fortinet from $130.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $107.77.

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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