Swedbank AB Has $304.13 Million Stock Holdings in Fortinet, Inc. $FTNT

Swedbank AB boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,721,638 shares of the software maker’s stock after purchasing an additional 156,728 shares during the period. Swedbank AB’s holdings in Fortinet were worth $304,132,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Integrated Advisors Network LLC lifted its position in shares of Fortinet by 2.4% during the 1st quarter. Integrated Advisors Network LLC now owns 100,445 shares of the software maker’s stock worth $8,208,000 after buying an additional 2,339 shares during the period. Shelton Wealth Management LLC bought a new stake in Fortinet in the first quarter valued at $854,000. Collaborative Fund Advisors LLC bought a new stake in Fortinet in the first quarter valued at $275,000. Abel Hall LLC raised its stake in Fortinet by 33.0% during the first quarter. Abel Hall LLC now owns 4,290 shares of the software maker’s stock worth $351,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in Fortinet during the first quarter worth $48,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Stephens set a $115.00 target price on shares of Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. UBS Group lifted their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Zacks Research lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Bank of America upped their price objective on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $107.58.

Insiders Place Their Bets

In related news, COO John Whittle sold 146,015 shares of the firm’s 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 sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 160,632 shares of the business’s 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 transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This trade 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. Over the last three months, insiders sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company’s stock.

Fortinet Price Performance

Shares of FTNT stock traded down $2.48 during trading hours on Tuesday, hitting $159.87. 1,846,426 shares of the company’s stock were exchanged, compared to its average volume of 6,552,497. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $163.57. The stock has a market cap of $117.13 billion, a price-to-earnings ratio of 61.95, a price-to-earnings-growth ratio of 4.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock’s 50-day moving average is $131.84 and its 200-day moving average is $98.86.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. 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 forecast that Fortinet, Inc. will post 2.78 EPS for the current 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.