Prudential PLC Decreases Holdings in Fortinet, Inc. $FTNT

Prudential PLC cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 47.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,088 shares of the software maker’s stock after selling 10,848 shares during the quarter. Prudential PLC’s holdings in Fortinet were worth $960,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares during the last quarter. State Street Corp increased its position in shares of Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Norges Bank purchased a new stake in shares of Fortinet during the 4th quarter valued at $1,152,917,000. Bank of New York Mellon Corp increased its position in shares of Fortinet by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after purchasing an additional 893,190 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. 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 quarter. 17.60% of the stock is owned by company insiders.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Fortinet Stock Performance

Shares of FTNT opened at $144.68 on Monday. The business has a 50-day moving average of $103.59 and a 200 day moving average of $88.94. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The firm has a market cap of $106.00 billion, a P/E ratio of 55.86, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data 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. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter 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. As a group, research analysts forecast that Fortinet, Inc. will post 2.78 EPS for the current year.

Analysts Set New Price Targets

FTNT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 target price on shares of Fortinet in a research report on Thursday, May 7th. UBS Group raised their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Citigroup raised their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Robert W. Baird set a $115.00 price objective on Fortinet in a report on Thursday, May 7th. Finally, Mizuho lifted their price objective on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $102.69.

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.