Fortinet, Inc. $FTNT Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,905,674 shares of the software maker’s stock after selling 16,357 shares during the period. Nordea Investment Management AB’s holdings in Fortinet were worth $550,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp boosted its holdings in Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after buying an additional 477,397 shares in the last quarter. Norges Bank acquired a new position in Fortinet during the second quarter worth about $1,640,900,000. Invesco Ltd. grew its position in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares during the period. Finally, First Trust Advisors LP increased its holdings in Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after buying an additional 1,790,033 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the sale, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

FTNT has been the subject of a number of research reports. Mizuho lifted their price target on shares of Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research report on Friday, February 6th. TD Cowen upgraded Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Friday, January 23rd. Citigroup reaffirmed a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. Rosenblatt Securities boosted their target price on Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Wells Fargo & Company started coverage on Fortinet in a report on Tuesday, March 3rd. They issued an “underweight” rating and a $64.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.62.

Fortinet Stock Performance

NASDAQ FTNT opened at $81.40 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $109.33. The business has a fifty day moving average of $81.10 and a 200-day moving average of $81.85. The stock has a market cap of $60.23 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.81 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business posted $0.74 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. As a group, analysts predict that Fortinet, Inc. will post 2.09 earnings per share 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.