Swiss Life Asset Management Ltd Acquires 59,973 Shares of Fortinet, Inc. $FTNT

Key Points

• Swiss Life Asset Management increased its Fortinet stake by 42.7% in the fourth quarter, buying 59,973 additional shares and bringing its total holding to 200,328 shares worth about $15.9 million.
• Fortinet reported better-than-expected quarterly results, with EPS of $0.82 versus $0.62 expected and revenue of $1.85 billion versus $1.73 billion estimated, while revenue rose 20.1% year over year.
• Analysts and recent news have turned more constructive on the stock, with several price-target increases and positive commentary around cybersecurity and post-quantum cryptography spending; Fortinet also hit a fresh 52-week high near $115.49.

Swiss Life Asset Management Ltd lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,328 shares of the software maker's stock after buying an additional 59,973 shares during the period. Swiss Life Asset Management Ltd's holdings in Fortinet were worth $15,908,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allstate Corp bought a new stake in shares of Fortinet in the 3rd quarter worth about $2,034,000. Trilogy Capital Inc. lifted its position in Fortinet by 46.8% in the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock worth $3,506,000 after buying an additional 14,076 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Fortinet by 465.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker's stock worth $64,255,000 after buying an additional 622,809 shares during the last quarter. Machina Capital S.A.S. bought a new stake in Fortinet in the third quarter worth $1,177,000. Finally, Victory Capital Management Inc. lifted its position 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 during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: BTIG highlighted Fortinet as a potential winner from rising post-quantum cryptography spending, which could open a new growth opportunity for cybersecurity vendors. BTIG Names Fortinet and Cloudflare as Potential Winners from Rising Post-Quantum Spending
• Positive Sentiment: Multiple articles described Fortinet as a growth stock and part of the AI/security investment theme, which may be improving sentiment around future demand. Fortinet (FTNT) is a Top-Ranked Growth Stock: Should You Buy?
• Positive Sentiment: Fortinet was also described as hitting a fresh 52-week high, signaling strong momentum and investor confidence in the stock’s fundamentals. Fortinet, Inc. (FTNT) Hits Fresh High: Is There Still Room to Run?
• Positive Sentiment: Analyst note flow was constructive, including a reported price-target increase and a bullish forecast from Citigroup, adding support to the recent move. Fortinet NASDAQ: FTNT Price Target Raised to $110.00
• Neutral Sentiment: One short-interest update showed no meaningful change in reported short interest, so it does not appear to be a major driver of the stock’s move.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. The trade was a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 2,478 shares of Fortinet 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 disclosure for this sale is available in the SEC filing. 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 Performance

Shares of Fortinet stock opened at $115.44 on Tuesday. The firm has a market cap of $84.51 billion, a P/E ratio of 44.57, a P/E/G ratio of 3.29 and a beta of 0.92. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $115.49. The stock's fifty day moving average price is $84.43 and its 200-day moving average price is $82.40.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate 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 business's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 earnings per share. 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, equities research analysts expect that Fortinet, Inc. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FTNT shares. UBS Group raised 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. Arete Research set a $104.00 price target on Fortinet and gave the stock a "buy" rating in a research report on Monday, April 27th. Royal Bank Of Canada restated a "sector perform" rating and issued a $107.00 price target (up from $90.00) on shares of Fortinet in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $100.00 price target on shares of Fortinet in a research report on Thursday. Finally, Weiss Ratings upgraded Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $100.45.

About Fortinet

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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