SEB Asset Management AB Invests $25.91 Million in Fortinet, Inc. $FTNT

Key Points

• SEB Asset Management AB disclosed a new position in Fortinet during the first quarter, buying 317,070 shares worth about $25.9 million.
• Fortinet reported strong quarterly results, with EPS of $0.82 and revenue of $1.85 billion, both above analyst expectations, while revenue rose 20.1% year over year.
• Despite some insider selling, analysts remain mixed overall: the stock currently carries a Hold consensus rating, though several firms recently raised price targets and one upgraded Fortinet to Strong Buy.

SEB Asset Management AB bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 317,070 shares of the software maker's stock, valued at approximately $25,911,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FTNT. Wexford Capital LP bought a new position in Fortinet in the 3rd quarter valued at about $25,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after acquiring an additional 245 shares during the period. Palisade Asset Management LLC bought a new stake in shares of Fortinet during the third quarter worth approximately $28,000. Elyxium Wealth LLC acquired a new position in shares of Fortinet in the fourth quarter valued at approximately $27,000. Finally, Maseco LLP acquired a new position in shares of Fortinet in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer 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 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. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% 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. In the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by corporate insiders.

Fortinet Stock Performance

Shares of FTNT stock opened at $161.61 on Monday. The stock has a market cap of $118.40 billion, a P/E ratio of 62.40, a price-to-earnings-growth ratio of 4.39 and a beta of 1.09. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $144.30 and a 200 day simple moving average of $103.96.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company's revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company 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. On average, research analysts predict that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FTNT. Susquehanna lifted their price target on Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Citigroup upped their price objective on Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Zacks Research upgraded Fortinet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. BTIG Research boosted their target price on shares of Fortinet from $150.00 to $186.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $113.97.

Fortinet 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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