Fortinet, Inc. $FTNT Position Trimmed by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd trimmed its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 10.4% during the first quarter, Holdings Channel reports. The firm owned 290,964 shares of the software maker’s stock after selling 33,906 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Fortinet were worth $23,001,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of FTNT. Norges Bank acquired a new position in shares of Fortinet in the 4th quarter valued at about $1,152,917,000. Van ECK Associates Corp raised its stake in Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after acquiring an additional 2,166,396 shares during the period. AQR Capital Management LLC raised its stake in Fortinet by 76.2% during the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after acquiring an additional 1,777,115 shares during the period. Invesco Ltd. lifted its holdings in Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after acquiring an additional 1,568,337 shares during the last quarter. Finally, Capital World Investors bought a new position in Fortinet in the fourth quarter worth about $100,256,000. 83.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Scotiabank upped their target price on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of Fortinet in a research report on Thursday, May 7th. Citigroup upped their price objective on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Compass Point set a $100.00 target price on Fortinet in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.97.

Fortinet Stock Performance

FTNT opened at $161.61 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $144.30 and its 200-day moving average is $103.80. The stock has a market cap of $118.40 billion, a PE ratio of 62.40, a price-to-earnings-growth ratio of 4.39 and a beta of 1.09. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $170.35.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.58 EPS. The business’s revenue for the quarter 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. On average, analysts predict that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD SYNNEX was named an approved global distributor for Fortinet, expanding Fortinet’s channel reach and potentially helping sales growth. Fortinet also unveiled planned FortiEndpoint upgrades featuring AI governance, native data loss prevention, and FortiAI-assisted operations, which could strengthen its competitive position in enterprise security. Should Fortinet’s New TD SYNNEX Partnership and AI Endpoint Upgrades Require Action From Fortinet (FTNT) Investors?
• Positive Sentiment: Analysts and market commentary continue to frame Fortinet as a beneficiary of rising agentic AI adoption, which is boosting demand for AI security, identity protection, and threat detection across the cybersecurity sector. 3 Cybersecurity Stocks to Buy Amid Rising Adoption of Agentic AI
• Positive Sentiment: Coverage ahead of earnings points to expectations for double-digit bottom-line growth, suggesting investors are looking for another solid quarter from Fortinet. What to Expect From Fortinet’s Q2 2026 Earnings Report
• Neutral Sentiment: Fortinet remains a closely watched cybersecurity name as investors position for its Q2 2026 results, but the immediate news flow is mostly about expectations rather than a confirmed earnings surprise. What to Expect From Fortinet’s Q2 2026 Earnings Report
• Neutral Sentiment: Brokerage sentiment is mixed, with one update showing a consensus “Hold” rating even as Wall Street Zen upgraded the stock to “Buy,” indicating analysts are not fully aligned on near-term upside. Fortinet, Inc. (NASDAQ:FTNT) Receives Consensus Recommendation of “Hold” from Brokerages Fortinet (NASDAQ:FTNT) Upgraded by Wall Street Zen to “Buy” Rating
• Negative Sentiment: MarketWatch noted that Fortinet underperformed peers on Thursday, which may reflect some profit-taking or caution ahead of earnings despite the broader positive theme. Fortinet Inc. stock underperforms Thursday when compared to competitors

Insiders Place Their Bets

In other news, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by company insiders.

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.