Forsta AP Fonden Has $24.93 Million Position in Fortinet, Inc. $FTNT

Forsta AP Fonden lifted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 34.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 313,900 shares of the software maker’s stock after purchasing an additional 80,200 shares during the period. Forsta AP Fonden’s holdings in Fortinet were worth $24,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FTNT. Norges Bank acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $1,152,917,000. Vanguard Group Inc. boosted its stake in Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after acquiring an additional 2,894,355 shares during the last quarter. Van ECK Associates Corp boosted its stake in Fortinet by 62.1% in the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after acquiring an additional 2,132,109 shares during the last quarter. First Trust Advisors LP boosted its stake in Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after acquiring an additional 1,790,033 shares during the last quarter. Finally, Invesco Ltd. boosted its stake 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 acquiring an additional 1,568,337 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Up 6.4%

FTNT opened at $137.97 on Friday. The stock has a market capitalization of $101.08 billion, a P/E ratio of 53.27, a P/E/G ratio of 3.80 and a beta of 0.92. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $138.11. The firm’s fifty day simple moving average is $96.96 and its 200 day simple moving average is $86.62. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for 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%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $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, research analysts anticipate that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction 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 sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the completion of the sale, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. The trade was a 0.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 153,848 shares of company stock worth $19,446,115. Insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price objective on shares of Fortinet in a research note on Thursday, May 7th. Weiss Ratings cut shares of Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Barclays set a $115.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Freedom Capital cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $102.69.

Fortinet 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.