Harvest Fund Management Co. Ltd Boosts Stock Holdings in Fortinet, Inc. $FTNT

Harvest Fund Management Co. Ltd raised its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 18.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 55,524 shares of the software maker’s stock after purchasing an additional 8,495 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Fortinet were worth $4,408,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Expressive Wealth LLC acquired a new position in shares of Fortinet in the 4th quarter valued at $646,000. Trilogy Capital Inc. lifted its stake in shares of Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after purchasing an additional 14,076 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Fortinet in the 3rd quarter valued at $1,177,000. Leonteq Securities AG acquired a new position in shares of Fortinet in the 4th quarter valued at $10,422,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Fortinet by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock valued at $138,874,000 after purchasing an additional 90,284 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 318,387 shares of company stock valued at $43,403,063 over the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FTNT has been the subject of several analyst reports. Robert W. Baird set a $115.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price target (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Compass Point set a $100.00 price target on shares of Fortinet in a report on Monday, May 4th. Evercore set a $80.00 price target on shares of Fortinet in a report on Friday, February 6th. Finally, BTIG Research boosted their price target on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $102.69.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
• Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
• Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
• Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
• Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $149.67 on Friday. The firm has a market cap of $109.66 billion, a PE ratio of 57.79, a PEG ratio of 4.01 and a beta of 1.11. The firm has a fifty day moving average of $102.28 and a 200 day moving average of $88.50. 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, Inc. has a one year low of $70.12 and a one year high of $150.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm 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, research analysts predict that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

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.