Banque Cantonale Vaudoise Reduces Holdings in Fortinet, Inc. $FTNT

Banque Cantonale Vaudoise lowered its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 30.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 66,248 shares of the software maker’s stock after selling 28,367 shares during the period. Banque Cantonale Vaudoise’s holdings in Fortinet were worth $5,414,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FTNT. Brighton Jones LLC lifted its holdings in Fortinet by 2.2% in the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after buying an additional 221 shares during the period. Bison Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth approximately $585,000. HUB Investment Partners LLC grew its holdings in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after acquiring an additional 1,193 shares during the period. Diversify Advisory Services LLC bought a new position in shares of Fortinet in the 2nd quarter worth approximately $1,136,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares during the period. 83.71% of the stock is owned by institutional investors.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% 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. In the last ninety days, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by insiders.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Analysts and market commentary highlighted Fortinet’s AI push, including the FortiSOC launch, as a potential driver of sustained growth, supported by strong recent earnings and rising demand for cybersecurity products. Is Fortinet Stock Poised for Strong Growth With AI-Driven Security?
• Positive Sentiment: Fortinet was featured as an IBD Stock of the Day because AI data centers are boosting demand for network firewalls, since those systems secure traffic between server clusters. Fortinet, IBD Stock Of The Day, Gets Network Firewall Boost From AI Data Centers
• Positive Sentiment: Fortinet announced the appointment of Derek Kan to its board, adding public-sector, AI, and scaling expertise that could support strategy and governance. Fortinet Appoints Public Sector Leader and Tech Executive Derek Kan to Its Board of Directors
• Neutral Sentiment: Some coverage compared Fortinet favorably with Palo Alto Networks, citing stronger SASE adoption, steadier execution, and a lower valuation, which reinforces the bullish narrative but is not a direct catalyst. PANW vs. FTNT: Which Cybersecurity Stock Has an Edge Right Now?
• Neutral Sentiment: Brokerages currently rate Fortinet as a “Hold,” suggesting analysts see room for growth but are not yet overwhelmingly bullish. Fortinet, Inc. (NASDAQ:FTNT) Receives Consensus Recommendation of “Hold” from Brokerages
• Negative Sentiment: One recent opinion piece argued Fortinet’s growth story is real, but the stock’s price may already reflect much of that optimism, highlighting valuation risk. Fortinet: The Growth Story Is Real, But So Is The Price Tag

Fortinet Stock Down 1.8%

Shares of NASDAQ:FTNT opened at $145.28 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $120.17 and a two-hundred day simple moving average of $94.77. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07. The stock has a market capitalization of $106.44 billion, a price-to-earnings ratio of 56.09, a PEG ratio of 4.05 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm posted $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. On average, research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on FTNT. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $107.00 price target (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Arete Research set a $104.00 target price on shares of Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. BTIG Research upped their target price on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Barclays set a $155.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Fortinet presently has a consensus rating of “Hold” and an average target price of $107.77.

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.