ING Groep NV Increases Position in Fortinet, Inc. $FTNT

ING Groep NV lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 91.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 245,559 shares of the software maker’s stock after acquiring an additional 117,412 shares during the quarter. ING Groep NV’s holdings in Fortinet were worth $19,500,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares during the last quarter. State Street Corp increased its position in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after acquiring an additional 477,397 shares during the last quarter. Norges Bank purchased a new stake in shares of Fortinet during the fourth quarter worth about $1,152,917,000. Bank of New York Mellon Corp increased its position in shares of Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after acquiring an additional 893,190 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Performance

Shares of FTNT stock opened at $144.68 on Monday. 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 business has a 50 day moving average of $103.59 and a two-hundred day moving average of $88.94. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $150.07. The company has a market cap of $106.00 billion, a P/E ratio of 55.86, a PEG ratio of 3.96 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last issued 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. Fortinet’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. As a group, analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 over the last ninety days. Company insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

FTNT has been the subject of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a report on Tuesday, April 21st. TD Cowen reissued a “buy” rating and issued a $125.00 price objective (up from $100.00) on shares of Fortinet in a report on Thursday, May 7th. Stifel Nicolaus set a $85.00 price objective on Fortinet in a report on Wednesday, March 11th. UBS Group boosted their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and a consensus price target of $102.69.

Fortinet Company 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.