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

Y Intercept Hong Kong Ltd reduced its position in Fortinet, Inc. (NASDAQ:FTNT) by 18.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 29,544 shares of the software maker’s stock after selling 6,645 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Fortinet were worth $2,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Fortinet during the 4th quarter worth $1,152,917,000. Van ECK Associates Corp raised its position in Fortinet by 38.9% in the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after purchasing an additional 2,166,396 shares in the last quarter. AQR Capital Management LLC raised its position in Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after purchasing an additional 1,777,115 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Fortinet by 17.0% in the 3rd 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 period. Finally, Capital World Investors acquired a new position in shares of Fortinet during the fourth quarter worth about $100,256,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

FTNT stock opened at $156.71 on Thursday. 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 company has a market capitalization of $114.81 billion, a P/E ratio of 60.51, a PEG ratio of 4.33 and a beta of 1.09. The business has a 50 day simple moving average of $134.75 and a 200-day simple moving average of $99.96. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $163.57.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. 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, equities analysts anticipate that Fortinet, Inc. will post 2.79 EPS for the current year.

Fortinet News Summary

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

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. 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. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on 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 transaction, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last quarter. 17.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FTNT has been the topic of several analyst reports. Arete Research set a $104.00 target price on shares of Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. Royal Bank Of Canada restated a “sector perform” rating and issued a $107.00 price objective (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. DZ Bank cut shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Tuesday, May 19th. Stephens set a $115.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, BTIG Research increased their target price on Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus price target of $107.58.

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.