Y Intercept Hong Kong Ltd Reduces Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• Y Intercept Hong Kong Ltd cut its Fortinet stake by 18.4% in the first quarter, selling 6,645 shares and leaving it with 29,544 shares valued at about $2.4 million.
• Several Fortinet insiders also sold stock recently, including CEO Ken Xie and COO John Whittle, with insider sales totaling 318,387 shares worth about $43.4 million over the last 90 days.
• Despite the selling, Fortinet’s latest quarter showed strong earnings and revenue growth, and the stock has been boosted by investor enthusiasm around AI-related cybersecurity demand, even as analysts currently rate it a Hold on average.

Y Intercept Hong Kong Ltd lessened its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,544 shares of the software maker's stock after selling 6,645 shares during the period. Y Intercept Hong Kong Ltd's holdings in Fortinet were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its position in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker's stock valued at $976,000 after acquiring an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new position in Fortinet in the fourth quarter valued at $585,000. HUB Investment Partners LLC raised its holdings in Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker's stock worth $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Fortinet during the 2nd quarter worth approximately $1,136,000. Finally, Quantinno Capital Management LP increased its stake in shares of Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker's stock worth $15,328,000 after purchasing an additional 31,202 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Insider Buying and Selling

In other Fortinet 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 value of $23,384,806.56. Following the transaction, 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 filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by insiders.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet is being highlighted as a major beneficiary of AI-related demand, with commentary pointing to its shares being up sharply year to date and continuing to draw investor attention as a cybersecurity AI winner. Fortinet Up 100% YTD from AI Demand
• Positive Sentiment: Multiple articles say FTNT’s big run has been powered by strong fiscal Q1 2026 results, and that investors are now willing to pay up for its AI/security growth potential. Fortinet (FTNT) Gains More Than 104% in 6 Months, Can It Go Higher?
• Positive Sentiment: Coverage from Trefis argues Fortinet’s rally reflects an internal “growth engine” beyond headline numbers, reinforcing the view that the company is building a stronger long-term AI-driven business model. What Fortinet Stock Was Telling Wall Street About AI Before It Doubled
• Neutral Sentiment: One market recap noted FTNT fell more steeply than the broader market in the latest session, reflecting near-term volatility after a strong multi-month advance. Fortinet (FTNT) Falls More Steeply Than Broader Market: What Investors Need to Know
• Neutral Sentiment: FTNT also hit a new 1-year high, which may support bullish momentum, but it can also make valuation more of a focus for investors after the recent surge. Fortinet NASDAQ: FTNT Hits New 1-Year High - Here's What Happened

Analyst Ratings Changes

A number of analysts have recently issued reports on FTNT shares. Robert W. Baird set a $115.00 price target on Fortinet in a research note on Thursday, May 7th. BMO Capital Markets increased their target price on shares of Fortinet from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Monday, May 4th. DZ Bank downgraded shares of Fortinet from a "buy" rating to a "hold" rating and set a $125.00 price target on the stock. in a research note on Tuesday, May 19th. Zacks Research lowered shares of Fortinet from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, Fortinet has a consensus rating of "Hold" and a consensus price target of $107.58.

Fortinet Trading Down 1.2%

Shares of Fortinet stock opened at $156.71 on Thursday. The firm has a market capitalization of $114.81 billion, a price-to-earnings ratio of 60.51, a PEG ratio of 4.33 and a beta of 1.09. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $163.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The stock has a 50 day moving average of $134.75 and a 200 day moving average of $99.96.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company 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 business earned $0.58 earnings per share. The company's revenue for the quarter was up 20.1% on a year-over-year basis. 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, research analysts predict that Fortinet, Inc. will post 2.79 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.