USS Investment Management Ltd Increases Stake in Fortinet, Inc. $FTNT

Key Points

• USS Investment Management Ltd increased its Fortinet stake by 7.1% in the first quarter, bringing its holdings to 113,687 shares worth about $9.29 million.
• Fortinet reported strong quarterly results, beating earnings and revenue estimates with EPS of $0.82 on $1.85 billion in revenue, while revenue rose 20.1% year over year.
• The stock has been supported by institutional buying and bullish momentum, but analyst sentiment remains mixed, with an average Hold rating and a consensus price target of $107.58 versus the stock’s recent price near its 52-week high.

USS Investment Management Ltd lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 113,687 shares of the software maker's stock after buying an additional 7,578 shares during the quarter. USS Investment Management Ltd's holdings in Fortinet were worth $9,291,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd increased its position in shares of Fortinet by 1.6% in the 1st quarter. IFM Investors Pty Ltd now owns 134,543 shares of the software maker's stock valued at $10,995,000 after purchasing an additional 2,155 shares during the last quarter. Impact Partnership Wealth LLC lifted its position in shares of Fortinet by 29.4% during the 1st quarter. Impact Partnership Wealth LLC now owns 5,005 shares of the software maker's stock worth $409,000 after purchasing an additional 1,136 shares during the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of Fortinet by 37.5% during the first quarter. Premier Path Wealth Partners LLC now owns 4,002 shares of the software maker's stock worth $327,000 after purchasing an additional 1,092 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in Fortinet by 24.8% in the first quarter. SJS Investment Consulting Inc. now owns 1,152 shares of the software maker's stock valued at $94,000 after buying an additional 229 shares during the last quarter. Finally, Intrua Financial LLC purchased a new position in Fortinet in the first quarter valued at $215,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Trading Up 3.5%

Shares of FTNT stock opened at $158.98 on Thursday. The company has a market capitalization of $116.48 billion, a P/E ratio of 61.38, a price-to-earnings-growth ratio of 4.21 and a beta of 1.09. 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 business's 50 day moving average is $127.45 and its two-hundred day moving average is $97.25. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $159.80.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating 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 business 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 earnings per share. The business's quarterly 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. Equities analysts forecast that Fortinet, Inc. will post 2.78 EPS for the current year.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of recent analyst reports. Weiss Ratings raised Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 11th. DZ Bank lowered Fortinet from a "buy" rating to a "hold" rating and set a $125.00 target price on the stock. in a research report on Tuesday, May 19th. Arete Research set a $104.00 price objective on shares of Fortinet and gave the stock a "buy" rating in a report on Monday, April 27th. Cantor Fitzgerald restated a "neutral" rating and set a $87.00 price objective on shares of Fortinet in a research report on Tuesday, April 21st. Finally, Bank of America upped their target price on shares of Fortinet from $130.00 to $180.00 and gave the company a "buy" rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $107.58.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,907 shares of Fortinet 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 sale, the vice president owned 9,923,610 shares of the company's stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The sale 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. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated 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 completion of the sale, the chief operating officer owned 94,724 shares of the company's stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 in the last ninety days. Corporate insiders own 17.60% of the company's stock.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as a strong momentum stock by Zacks, reinforcing the idea that the shares are technically strong and attracting investor interest. Here's Why Fortinet (FTNT) is a Strong Momentum Stock
• Positive Sentiment: Liquid Networx expanded Fortinet security offerings through AWS and Azure Marketplace, a sign of broader channel reach and potential incremental demand for Fortinet licensing and services. Liquid Networx Expands Fortinet Security Offerings via AWS and Azure Marketplace
• Positive Sentiment: Several recent articles pointed to Fortinet as a potentially top-performing AI/cybersecurity stock, with one noting Barclays raised its price target to $155, which can boost investor confidence. Fortinet (FTNT) Stock Could Be A Top Performer This Year Amid Cautious Guidance
• Neutral Sentiment: Fortinet was included in a list of the most profitable software stocks, which supports the company’s fundamental profile but is not a direct catalyst. 5 Most Profitable Software Stocks to Buy Right Now
• Neutral Sentiment: Bernstein’s Hold rating suggests mixed expectations, while a separate sell recommendation adds caution and may limit enthusiasm around the stock’s near-term upside. Fortinet (FTNT) Gets a Hold from Bernstein Fortinet (FTNT): New Sell Recommendation for This Technology Giant
• Negative Sentiment: Wall Street coverage remains somewhat divided, with cautious guidance still a theme in some commentary, which could temper gains if investors focus on valuation and growth concerns. Here are Tuesday’s Best Wall Street Analyst Research Calls

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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