Swedbank AB lessened its stake in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 20.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,564,910 shares of the software maker’s stock after selling 910,531 shares during the period. Swedbank AB’s holdings in Fortinet were worth $283,090,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of FTNT. Pinnacle Holdings LLC bought a new stake in Fortinet during the third quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Ameriflex Group Inc. bought a new stake in Fortinet during the 3rd quarter valued at approximately $25,000. Wexford Capital LP acquired a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. Finally, Palisade Asset Management LLC bought a new position in Fortinet in the 3rd quarter worth approximately $28,000. 83.71% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
FTNT has been the subject of several research reports. UBS Group reissued a “neutral” rating and issued a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Mizuho decreased their price target on shares of Fortinet from $74.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a report on Friday, February 6th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $83.00 price objective on shares of Fortinet in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-one have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.38.
Fortinet Stock Performance
Shares of NASDAQ FTNT opened at $89.92 on Wednesday. The firm has a market capitalization of $65.83 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 3.06 and a beta of 0.92. Fortinet, Inc. has a one year low of $70.12 and a one year high of $108.77. The business has a fifty day simple moving average of $82.03 and a 200 day simple moving average of $81.76. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.
Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Sell-side analysts expect that Fortinet, Inc. will post 2.63 EPS for the current year.
Insider Activity
In other news, CEO Ken Xie sold 5,355 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the transaction, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 on Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the transaction, the vice president directly owned 9,927,517 shares of the company’s stock, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 18.00% of the stock is currently owned by insiders.
Fortinet News Summary
Here are the key news stories impacting Fortinet this week:
- Positive Sentiment: BMO Capital Markets raised its price target to $100 and kept a market‑perform view, which supports near‑term upside expectations and may attract buy-side interest. BMO Capital Markets Issues Positive Forecast for Fortinet (NASDAQ:FTNT) Stock Price
- Positive Sentiment: Investors appear to be positioning ahead of Fortinet’s Q1 earnings and responding to recent company security updates (FortiGuard report, WEF participation), which has driven momentum and contributed to higher intraday flows. Fortinet jumps 3% as investors position for upcoming earnings and recent security-focused updates
- Positive Sentiment: Strength in the cyber security sector (e.g., CrowdStrike’s recent strong run tied to AI-driven demand) is a positive tailwind for Fortinet’s valuation and demand narrative. CrowdStrike Stock Rises 19% in 3 Months: Time to Hold or Book Profits?
- Neutral Sentiment: CEO Ken Xie sold 5,355 shares and VP Michael Xie sold 2,478 shares under pre‑arranged Rule 10b5‑1 plans to cover tax withholding on vested awards — these filings are expected and not an operational red flag, but may be interpreted by some as insider liquidity. SEC Form 4 — Ken Xie sale disclosure
- Neutral Sentiment: Several earnings previews and analyst notes frame Q1 as steady growth with strong SASE momentum but macro risks, so Q1 results/guidance will be the immediate catalyst. Fortinet Set to Report Q1 Earnings: What’s in Store for the Stock?
- Negative Sentiment: Institutional portfolio moves show notable trimming by large holders (e.g., UBS, Morgan Stanley reductions) and a mix of analyst downgrades/low price targets remain in the background, which could limit upside if earnings disappoint. Fortinet jumps 3% as investors position for upcoming earnings and recent security-focused updates
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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