Andra AP fonden Sells 187,320 Shares of Fortinet, Inc. $FTNT

Andra AP fonden lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 43.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 243,800 shares of the software maker’s stock after selling 187,320 shares during the quarter. Andra AP fonden’s holdings in Fortinet were worth $19,360,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FTNT. Pinnacle Holdings LLC acquired a new position in shares of Fortinet during the third quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in shares of Fortinet during the third quarter valued at about $25,000. Wexford Capital LP acquired a new position in shares of Fortinet during the third quarter valued at about $25,000. Elyxium Wealth LLC acquired a new position in shares of Fortinet during the fourth quarter valued at about $27,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Fortinet during the third quarter valued at about $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Up 4.4%

FTNT opened at $145.06 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. 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 capitalization of $106.28 billion, a PE ratio of 56.01, a P/E/G ratio of 3.80 and a beta of 1.11. The company’s 50-day moving average is $108.50 and its 200 day moving average is $90.69.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping 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 company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. 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 predict that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

FTNT has been the topic of several research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $107.00 price objective (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. UBS Group upped their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Susquehanna upped their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Citigroup upped their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $106.43.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This represents a 0.30% 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. Insiders have sold 318,387 shares of company stock worth $43,403,063 in the last quarter. Insiders own 17.60% of the company’s stock.

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.