KBC Group NV Reduces Stock Position in Fortinet, Inc. $FTNT

KBC Group NV cut its stake in Fortinet, Inc. (NASDAQ:FTNT) by 5.0% in the first quarter, HoldingsChannel.com reports. The fund owned 307,324 shares of the software maker’s stock after selling 16,259 shares during the period. KBC Group NV’s holdings in Fortinet were worth $25,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC grew its position in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares during the period. Bison Wealth LLC purchased a new position in shares of Fortinet in the 4th quarter worth $585,000. HUB Investment Partners LLC grew its holdings in shares of Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after acquiring an additional 1,193 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Fortinet in the second quarter worth $1,136,000. Finally, Quantinno Capital Management LP increased its position in Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after acquiring an additional 31,202 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FTNT has been the topic of several research reports. Arete Research set a $104.00 target price on Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Compass Point set a $100.00 price target on shares of Fortinet in a research report on Monday, May 4th. Robert W. Baird set a $120.00 price objective on shares of Fortinet in a research note on Tuesday. HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective on the stock. in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of Fortinet from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus target price of $119.48.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $158.10 on Wednesday. The company has a market capitalization of $115.83 billion, a P/E ratio of 61.04, a P/E/G ratio of 4.36 and a beta of 1.09. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The firm’s 50 day simple moving average is $146.08 and its two-hundred day simple moving average is $105.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 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 firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $0.58 EPS. The company’s revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Research analysts expect that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In related news, COO John Whittle sold 146,015 shares of the 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 completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of Fortinet 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 sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their position. 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 have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last ninety days. 17.60% of the stock is currently owned by company insiders.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Intel and Fortinet announced a collaboration to develop Fortinet’s next-generation Security Processor 6, with Fortinet becoming Intel Foundry’s first publicly named cybersecurity chip customer. The deal highlights demand for Fortinet’s hardware and could strengthen its supply chain and product roadmap. Intel (INTC) Lands Fortinet As First Named Cybersecurity Customer For Its Foundry
• Positive Sentiment: Wall Street analysts turned more constructive on Fortinet, with one upgrade and another raising the price target while maintaining a Hold rating. The revisions suggest confidence in Fortinet’s fundamentals, even if valuation remains a concern. This Fortinet Analyst Is No Longer Bearish; Here Are Top 4 Upgrades For Tuesday Fortinet Price Target Raised to $140 as Strong Fundamentals Clash With Stretch Valuation, Supporting a Hold Rating
• Neutral Sentiment: Cybersecurity stocks remain in favor as investors rotate away from some AI and semiconductor names, which supports Fortinet’s sector backdrop. Cybersecurity Stocks Are Holding Up as the AI Trade Starts to Crack (FTNT)
• Negative Sentiment: Despite the positive headlines, Fortinet is still seen as expensive by some analysts, and Morgan Stanley warned that lofty cybersecurity valuations could limit upside ahead of earnings. Cybersecurity Stocks’ Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

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.