Resona Asset Management Co. Ltd. Reduces Position in Fortinet, Inc. $FTNT

Resona Asset Management Co. Ltd. trimmed its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.8% during the fourth quarter, Holdings Channel reports. The fund owned 204,883 shares of the software maker’s stock after selling 10,294 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Fortinet were worth $16,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FTNT. Pinnacle Holdings LLC purchased a new stake in shares of Fortinet during the third quarter worth about $25,000. Ameriflex Group Inc. purchased a new stake in shares of Fortinet during the third quarter worth about $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet during the third quarter worth about $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fortinet during the fourth quarter worth about $27,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Fortinet during the third quarter worth about $28,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Up 1.8%

Shares of Fortinet stock opened at $130.00 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a market cap of $95.24 billion, a P/E ratio of 50.19, a P/E/G ratio of 3.51 and a beta of 0.92. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $130.36. The business has a 50-day moving average price of $90.16 and a 200 day moving average price of $84.27.

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, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the company earned $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, sell-side analysts forecast that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Key Stories Impacting Fortinet

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

Insider Activity

In other Fortinet news, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the transaction, the chief executive officer directly owned 52,978,004 shares in the company, valued at $4,709,744,555.60. The trade was a 0.01% decrease in their ownership of the stock. The sale 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. 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 Fortinet stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares of the company’s stock, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FTNT. BMO Capital Markets lifted their target price on Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Weiss Ratings lowered Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Evercore set a $80.00 price objective on Fortinet in a report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and an average target price of $101.83.

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.