Handelsbanken Fonder AB Has $19.99 Million Stake in Fortinet, Inc. $FTNT

Handelsbanken Fonder AB grew its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 18.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 251,718 shares of the software maker’s stock after acquiring an additional 39,156 shares during the period. Handelsbanken Fonder AB’s holdings in Fortinet were worth $19,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. PDS Planning Inc lifted its position in shares of Fortinet by 3.1% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after buying an additional 123 shares during the last quarter. Delta Investment Management LLC lifted its position in shares of Fortinet by 2.4% in the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after buying an additional 125 shares during the last quarter. Fiduciary Trust Co lifted its position in shares of Fortinet by 1.2% in the third quarter. Fiduciary Trust Co now owns 10,823 shares of the software maker’s stock valued at $910,000 after buying an additional 130 shares during the last quarter. Optimist Retirement Group LLC lifted its position in shares of Fortinet by 2.9% in the third quarter. Optimist Retirement Group LLC now owns 4,888 shares of the software maker’s stock valued at $411,000 after buying an additional 140 shares during the last quarter. Finally, L2 Asset Management LLC lifted its position in shares of Fortinet by 5.1% in the third quarter. L2 Asset Management LLC now owns 2,992 shares of the software maker’s stock valued at $252,000 after buying an additional 145 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest earnings call was described as upbeat, with AI-led demand helping lift the company’s guidance and reinforcing the view that security spending remains strong. Fortinet Rides AI-Led Surge to Lift Guidance
• Positive Sentiment: Analysts and market commentary highlighted Fortinet as a strong momentum name, with AI and SASE demand supporting billings, margins, and estimate revisions. Here’s Why Fortinet (FTNT) is a Strong Momentum Stock
• Positive Sentiment: Additional coverage argued Fortinet looks like the better cybersecurity buy versus peers, citing accelerating AI-driven security demand and improving fundamentals. Zscaler vs. Fortinet: Which Cybersecurity Stock Is the Better Buy?
• Neutral Sentiment: Fortinet also presented at J.P. Morgan’s Technology, Media and Communications Conference, which kept investor attention on management’s outlook but did not introduce a clearly new catalyst. Fortinet, Inc. (FTNT) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Negative Sentiment: DZ Bank downgraded Fortinet from Buy to Hold and set a $125 price target, suggesting some upside may be limited after the recent run-up in the stock. Fortinet downgrade news

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 5,355 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the transaction, the vice president owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This trade represents a 0.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is owned by company insiders.

Fortinet Stock Performance

NASDAQ:FTNT opened at $130.00 on Thursday. The stock has a market cap of $95.24 billion, a P/E ratio of 50.19, a PEG ratio of 3.51 and a beta of 0.92. The stock has a 50 day simple moving average of $90.16 and a 200 day simple moving average of $84.27. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $130.36.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $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. Research analysts anticipate that Fortinet, Inc. will post 2.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on FTNT. Arete Research set a $104.00 price objective on Fortinet and gave the company a “buy” rating in a research report on Monday, April 27th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Scotiabank raised their price objective on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $107.00 price target (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. Finally, UBS Group lifted their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $101.83.

About Fortinet

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.