Bessemer Group Inc. Decreases Holdings in Fortinet, Inc. $FTNT

Bessemer Group Inc. lessened its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,141,632 shares of the software maker’s stock after selling 97,159 shares during the period. Bessemer Group Inc.’s holdings in Fortinet were worth $249,478,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FTNT. Pinnacle Holdings LLC purchased a new stake in Fortinet during the third quarter worth about $25,000. Ameriflex Group Inc. purchased a new stake in Fortinet during the third quarter worth about $25,000. Wexford Capital LP purchased a new stake in Fortinet during the third quarter worth about $25,000. Palisade Asset Management LLC purchased a new stake in Fortinet during the third quarter worth about $28,000. Finally, Ares Financial Consulting LLC purchased a new stake in Fortinet during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet is getting a boost from the market’s reaction to its strong first-quarter results, with articles highlighting that the company beat expectations and is benefiting from AI-related cybersecurity demand. Fortinet Stock’s Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
• Positive Sentiment: NVIDIA announced a secure enterprise AI initiative with Fortinet, including the FortiAIGate security gateway, which could strengthen Fortinet’s positioning in AI security and support the stock. NVIDIA Targets Secure Enterprise AI Scale With Fortinet And Red Hat Partnerships
• Positive Sentiment: Broader market strength in technology shares and resilient economic data also helped sentiment toward Fortinet and other software/cybersecurity names. Stocks Settle Higher on Strong Tech Earnings and Economic Resilience
• Neutral Sentiment: Fortinet’s COO John Whittle appeared in a fireside chat, but the event appears informational rather than a major new business catalyst. REPLAY: Fireside Chat with Fortinet COO John Whittle
• Neutral Sentiment: Recent commentary has also focused on Fortinet’s long-term stock performance and valuation, reinforcing investor interest but not adding a fresh fundamental trigger. $100 Invested In Fortinet 10 Years Ago Would Be Worth This Much Today

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FTNT. Rosenblatt Securities raised their price objective on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 target price on shares of Fortinet in a research report on Thursday, May 7th. BTIG Research upgraded shares of Fortinet from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Thursday, May 7th. Scotiabank increased their target price on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Finally, Arete Research set a $104.00 target price on shares of Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $100.45.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $121.86 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $89.28 billion, a PE ratio of 47.05, a P/E/G ratio of 3.38 and a beta of 0.92. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $121.97. The company has a 50-day moving average price of $86.71 and a two-hundred day moving average price of $83.10.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data 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 net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the business earned $0.58 earnings per share. Fortinet’s 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 2.65 EPS for the current year.

Insider Buying and Selling

In other news, CEO Ken Xie sold 5,355 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were 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 in the company, valued at approximately $4,709,744,555.60. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This trade represents 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. 17.60% of the stock is currently owned by company insiders.

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.