Fortinet, Inc. $FTNT Stock Holdings Lowered by DNB Asset Management AS

DNB Asset Management AS reduced its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,382 shares of the software maker’s stock after selling 18,981 shares during the quarter. DNB Asset Management AS’s holdings in Fortinet were worth $12,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Holdings LLC bought a new stake in shares of Fortinet in the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in shares of Fortinet in the 3rd quarter worth approximately $25,000. Wexford Capital LP bought a new stake in shares of Fortinet in the 3rd quarter worth approximately $25,000. Palisade Asset Management LLC bought a new stake in shares of Fortinet in the 3rd quarter worth approximately $28,000. Finally, Ares Financial Consulting LLC bought a new stake in shares of Fortinet in the 4th quarter worth approximately $29,000. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on FTNT. Evercore set a $80.00 price target on shares of Fortinet in a report on Friday, February 6th. Arete Research set a $104.00 price target on shares of Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. Sanford C. Bernstein restated a “market perform” rating and set a $83.00 price target on shares of Fortinet in a report on Friday, February 6th. Mizuho boosted their price target on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. Finally, Scotiabank boosted their price target on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $100.45.

Fortinet Price Performance

FTNT stock opened at $122.78 on Monday. The firm has a market capitalization of $89.95 billion, a P/E ratio of 47.41, a P/E/G ratio of 3.38 and a beta of 0.92. 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 company’s 50 day simple moving average is $87.51 and its 200-day simple moving average is $83.36. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $123.33.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. 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, equities research analysts anticipate that Fortinet, Inc. will post 2.77 EPS for the current year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Zacks highlighted Fortinet as one of several security stocks benefiting from surging demand for cybersecurity solutions as companies accelerate digital transformation and cloud migration. 4 Security Stocks to Focus on From a Flourishing Industry
• Positive Sentiment: Scotiabank raised its FY2026 EPS estimate for Fortinet to $2.76 from $2.62, which can support investor confidence in earnings power even though the firm kept a Sector Perform rating and a $110 target.
• Positive Sentiment: Multiple market write-ups pointed to Fortinet’s strong Q1 beat, AI-driven demand, and institutional buying as reasons the stock has maintained strong momentum after earnings. Fortinet Stock’s Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
• Neutral Sentiment: Scotiabank also trimmed its FY2027 EPS estimate to $2.95 from $3.02, which is a mild headwind but not enough to offset the more upbeat near-term outlook.
• Neutral Sentiment: Fortinet was mentioned in broader cybersecurity and market commentary alongside peers such as CrowdStrike and Okta, reinforcing sector strength rather than providing company-specific news.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This represents a 0.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is currently owned by corporate insiders.

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.