Ken Xie Sells 160,632 Shares of Fortinet (NASDAQ:FTNT) Stock

Fortinet, Inc. (NASDAQ:FTNT) CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction that occurred 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 sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 4th, Ken Xie sold 5,355 shares of Fortinet stock. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50.

Fortinet Trading Up 2.2%

Shares of Fortinet stock opened at $149.67 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 1 year low of $70.12 and a 1 year high of $150.07. The company has a market capitalization of $109.66 billion, a P/E ratio of 57.79, a P/E/G ratio of 4.01 and a beta of 1.11. The business has a 50 day moving average price of $102.28 and a 200 day moving average price of $88.50.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.58 EPS. The company’s quarterly 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. Sell-side analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings downgraded Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Wells Fargo & Company restated an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Stephens set a $115.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Finally, Scotiabank lifted their price objective on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Two investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and a consensus target price of $102.69.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
• Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
• Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
• Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
• Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Institutional Trading of Fortinet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pinnacle Holdings LLC purchased a new stake in Fortinet in the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. purchased a new stake in Fortinet in the 3rd quarter worth approximately $25,000. Physician Wealth Advisors Inc. grew its stake in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after acquiring an additional 245 shares during the period. Wexford Capital LP purchased a new stake in shares of Fortinet during the 3rd quarter valued at $25,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Fortinet during the 4th quarter worth $27,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.