Hsbc Holdings PLC Sells 520,648 Shares of Fortinet, Inc. $FTNT

Hsbc Holdings PLC lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 24.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,569,290 shares of the software maker’s stock after selling 520,648 shares during the period. Hsbc Holdings PLC’s holdings in Fortinet were worth $124,787,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new position in shares of Fortinet in the third quarter valued at about $25,000. Ameriflex Group Inc. acquired a new stake in Fortinet in the 3rd quarter worth about $25,000. Wexford Capital LP acquired a new stake in Fortinet in the 3rd quarter worth about $25,000. Elyxium Wealth LLC bought a new stake in Fortinet in the 4th quarter valued at about $27,000. Finally, Palisade Asset Management LLC bought a new stake in Fortinet in the 3rd quarter valued at about $28,000. Institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on FTNT shares. JPMorgan Chase & Co. increased their target price on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Citigroup lifted their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Barclays set a $155.00 price target on Fortinet and gave the company an “equal weight” rating in a research note on Friday, June 12th. Arete Research set a $104.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Piper Sandler raised their price objective on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.77.

Fortinet Stock Performance

Shares of FTNT stock opened at $144.73 on Monday. The stock’s fifty day moving average price is $116.11 and its two-hundred day moving average price is $93.45. The company has a market cap of $106.04 billion, a PE ratio of 55.88, a P/E/G ratio of 3.96 and a beta of 1.11. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping 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 analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. Fortinet’s revenue was up 20.1% on a year-over-year basis. 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 predict that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following 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. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by corporate insiders.

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.