Fortinet, Inc. $FTNT Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA cut its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 13.2% during the first quarter, Holdings Channel reports. The institutional investor owned 153,299 shares of the software maker’s stock after selling 23,273 shares during the period. Union Bancaire Privee UBP SA’s holdings in Fortinet were worth $11,801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FTNT. Optimist Retirement Group LLC increased its holdings in shares of Fortinet by 2.5% in the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after acquiring an additional 122 shares during the last quarter. PDS Planning Inc lifted its stake in Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after purchasing an additional 123 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after purchasing an additional 123 shares in the last quarter. Delta Investment Management LLC boosted its holdings in 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 purchasing an additional 125 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in Fortinet by 2.0% in the fourth quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock valued at $513,000 after purchasing an additional 128 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortinet news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% 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 a total of 318,387 shares of company stock worth $43,403,063 in the last 90 days. Company insiders own 17.60% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $151.35 on Friday. The stock has a market cap of $110.89 billion, a P/E ratio of 58.44, a P/E/G ratio of 4.10 and a beta of 1.11. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $152.77. The stock has a 50 day moving average of $123.02 and a two-hundred day moving average of $95.61. 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 (NASDAQ:FTNT) last announced its earnings results 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. The business 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 period last year, the firm posted $0.58 earnings per share. 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, research analysts forecast that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on FTNT shares. BMO Capital Markets raised their price objective on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Truist Financial set a $120.00 target price on shares of Fortinet and gave the company a “buy” rating in a research report on Thursday, May 7th. Robert W. Baird set a $115.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Piper Sandler boosted their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Mizuho upped their price objective on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and an average price target of $107.77.

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.