Fortinet, Inc. $FTNT Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 10.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 220,001 shares of the software maker’s stock after selling 26,752 shares during the period. Handelsbanken Fonder AB’s holdings in Fortinet were worth $33,797,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. grew its stake in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 245 shares during the period. Wexford Capital LP purchased a new position in shares of Fortinet in the 3rd quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet in the 4th quarter valued at $27,000. Palisade Asset Management LLC acquired a new position in shares of Fortinet during the 3rd quarter valued at $28,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Fortinet during the 4th quarter valued at $29,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their position. The sale was disclosed in a document filed 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 475,157 shares of company stock valued at $69,480,964. 17.60% of the stock is currently owned by insiders.

Fortinet Price Performance

FTNT opened at $161.89 on Wednesday. The company has a fifty day simple moving average of $154.14 and a 200 day simple moving average of $113.59. The firm has a market cap of $118.78 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 3.11 and a beta of 1.07. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FTNT shares. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price target (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. Wall Street Zen upgraded Fortinet from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Morgan Stanley restated a “positive” rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Royal Bank Of Canada set a $185.00 target price on Fortinet and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, TD Cowen reiterated a “buy” rating and set a $215.00 target price (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Fortinet presently has an average rating of “Hold” and an average price target of $150.91.

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.