Ilmarinen Mutual Pension Insurance Co Has $11.44 Million Stake in Fortinet, Inc. $FTNT

Ilmarinen Mutual Pension Insurance Co cut its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,066 shares of the software maker’s stock after selling 12,794 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Fortinet were worth $11,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Foundations Investment Advisors LLC lifted its holdings in Fortinet by 18.2% during the 4th quarter. Foundations Investment Advisors LLC now owns 4,647 shares of the software maker’s stock worth $369,000 after buying an additional 717 shares during the period. Baker Avenue Asset Management LP acquired a new position in Fortinet during the 4th quarter worth about $330,000. Godfrey Financial Associates Inc. acquired a new position in Fortinet during the 4th quarter worth about $108,000. Employees Retirement System of Texas lifted its holdings in Fortinet by 61.7% during the 4th quarter. Employees Retirement System of Texas now owns 93,293 shares of the software maker’s stock worth $7,408,000 after buying an additional 35,600 shares during the period. Finally, Expressive Wealth LLC acquired a new position in Fortinet during the 4th quarter worth about $646,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction dated 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 directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 2,478 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the transaction, the vice president directly owned 9,927,517 shares in the company, valued at $882,456,986.13. This trade represents a 0.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 three months, insiders have sold 153,848 shares of company stock valued at $19,446,115. 17.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on FTNT. DZ Bank downgraded Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, May 19th. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Fortinet in a report on Tuesday, April 21st. Stifel Nicolaus set a $85.00 price objective on Fortinet in a research note on Wednesday, March 11th. Evercore set a $80.00 price target on Fortinet in a research note on Friday, February 6th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $102.69.

Fortinet Stock Up 1.4%

FTNT opened at $129.70 on Friday. The stock has a market cap of $95.02 billion, a PE ratio of 50.08, a P/E/G ratio of 3.52 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $134.91. The business’s fifty day simple moving average is $95.87 and its 200 day simple moving average is $86.26.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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 expect that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

About Fortinet

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.