Insider Selling: Fortinet (NASDAQ:FTNT) VP Sells $572,141.08 in Stock

Fortinet, Inc. (NASDAQ:FTNT) VP Michael Xie sold 3,907 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Xie also recently made the following trade(s):

• On Monday, May 4th, Michael Xie sold 2,478 shares of Fortinet stock. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42.

Fortinet Price Performance

NASDAQ FTNT opened at $144.68 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm’s 50 day moving average price is $103.59 and its 200-day moving average price is $88.89. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07. The company has a market cap of $106.00 billion, a PE ratio of 55.86, a P/E/G ratio of 4.10 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $0.58 earnings per share. The company’s quarterly revenue 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. Sell-side analysts forecast that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FTNT. Arete Research set a $104.00 target price on shares of Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. Compass Point set a $100.00 target price on shares of Fortinet in a report on Monday, May 4th. Piper Sandler raised their target price on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Freedom Capital cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Scotiabank raised their target price on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus price target of $102.69.

Key Fortinet News

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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new stake in shares of Fortinet during the fourth quarter worth about $585,000. HUB Investment Partners LLC increased its stake in shares of Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after purchasing an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Fortinet during the second quarter worth about $1,136,000. Finally, Quantinno Capital Management LP increased its stake in shares of Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after purchasing an additional 31,202 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.