Royal London Asset Management Ltd. Sells 281,589 Shares of Fortinet, Inc. $FTNT

Royal London Asset Management Ltd. trimmed its position in Fortinet, Inc. (NASDAQ:FTNT) by 25.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 841,090 shares of the software maker’s stock after selling 281,589 shares during the period. Royal London Asset Management Ltd.’s holdings in Fortinet were worth $129,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of FTNT. Expressive Wealth LLC acquired a new position in Fortinet during the fourth quarter worth about $646,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Fortinet in the second quarter valued at approximately $492,000. Leonteq Securities AG acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. acquired a new position in Fortinet during the fourth quarter worth $14,638,000. Finally, Thrivent Financial for Lutherans grew its holdings in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after buying an additional 238,299 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 329,142 shares of company stock worth $50,731,178 over the last ninety days. Insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

NASDAQ FTNT opened at $166.00 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The company has a market cap of $121.80 billion, a P/E ratio of 58.45, a P/E/G ratio of 3.28 and a beta of 1.07. The stock has a 50-day moving average of $157.68 and a two-hundred day moving average of $120.40. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $173.89.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.Fortinet’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Analyst Ratings Changes

FTNT has been the topic of several recent research reports. Susquehanna boosted their price target on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Citigroup lifted their price target on shares of Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. DZ Bank cut Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Weiss Ratings downgraded Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 20th. Finally, Truist Financial set a $183.00 price objective on shares of Fortinet and gave the company a “buy” rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus target price of $150.91.

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.