Pictet Asset Management Holding SA Acquires 131,048 Shares of Fortinet, Inc. $FTNT

Pictet Asset Management Holding SA grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,287,041 shares of the software maker’s stock after purchasing an additional 131,048 shares during the period. Pictet Asset Management Holding SA’s holdings in Fortinet were worth $268,430,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Pinnacle Holdings LLC bought a new position in Fortinet during the 3rd quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new position in Fortinet during the third quarter valued at $25,000. Wexford Capital LP bought a new stake in Fortinet in the third quarter worth $25,000. Elyxium Wealth LLC bought a new stake in Fortinet in the fourth quarter worth $27,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Fortinet in the third quarter worth $28,000. 83.71% of the stock is owned by institutional investors.

Fortinet Trading Up 0.9%

Fortinet stock opened at $151.35 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company has a market cap of $110.89 billion, a P/E ratio of 58.44, a P/E/G ratio of 4.14 and a beta of 1.11. The business has a 50-day simple moving average of $123.02 and a two-hundred day simple moving average of $95.61. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $152.77.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts predict that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was 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 in the company, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction on Wednesday, June 3rd. The shares were 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 $1,453,213,448.40. This trade represents a 0.04% 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. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last three months. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FTNT. Zacks Research lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. 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. Barclays set a $155.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Tuesday, April 21st. Finally, DZ Bank lowered shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $107.77.

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.