SEB Asset Management AB Acquires Shares of 317,070 Fortinet, Inc. $FTNT

SEB Asset Management AB bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 317,070 shares of the software maker’s stock, valued at approximately $25,911,000.

A number of other large investors have also recently modified their holdings of FTNT. Physician Wealth Advisors Inc. raised its holdings in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 245 shares in the last quarter. Wexford Capital LP acquired a new stake in Fortinet in the third quarter valued at about $25,000. Elyxium Wealth LLC acquired a new stake in Fortinet in the fourth quarter valued at about $27,000. Palisade Asset Management LLC bought a new position in Fortinet in the third quarter valued at about $28,000. Finally, Ares Financial Consulting LLC acquired a new position in Fortinet during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $161.61 on Monday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $170.35. 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 business’s 50 day simple moving average is $144.30 and its 200 day simple moving average is $103.96. The stock has a market capitalization of $118.40 billion, a PE ratio of 62.40, a PEG ratio of 4.39 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last released its 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 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 was up 20.1% on a year-over-year basis. During the same quarter last year, the firm 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 2.8 earnings per share for the current year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,907 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the sale, the chief executive officer directly 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. In the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on FTNT. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a report on Tuesday, April 21st. Stephens set a $115.00 price target on shares of Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. DZ Bank cut shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Tuesday, May 19th. Truist Financial set a $120.00 price objective on shares of Fortinet and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Susquehanna boosted their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus price target of $113.97.

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.