ABN AMRO Bank N.V. Cuts Position in Fortinet, Inc. $FTNT

ABN AMRO Bank N.V. lessened its position in Fortinet, Inc. (NASDAQ:FTNT) by 98.7% during the first quarter, Holdings Channel reports. The fund owned 3,550 shares of the software maker’s stock after selling 275,456 shares during the period. ABN AMRO Bank N.V.’s holdings in Fortinet were worth $286,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised 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 acquiring an additional 221 shares in the last quarter. Bison Wealth LLC bought a new stake in shares of Fortinet in the 4th quarter valued at about $585,000. HUB Investment Partners LLC lifted its stake in shares of Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after acquiring an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Fortinet in the second quarter worth $1,136,000. Finally, Quantinno Capital Management LP raised its holdings in Fortinet by 27.4% during the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after buying an additional 31,202 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $151.35 on Monday. 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 market capitalization of $110.89 billion, a price-to-earnings ratio of 58.44, a PEG ratio of 4.14 and a beta of 1.11. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $152.77. The stock has a fifty day simple moving average of $123.02 and a two-hundred day simple moving average of $95.70.

Fortinet (NASDAQ:FTNT) last issued its earnings results 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. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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, research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on FTNT. Zacks Research downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Robert W. Baird set a $115.00 target price on Fortinet in a report on Thursday, May 7th. Stephens set a $115.00 price target on Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Finally, DZ Bank lowered shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $107.77.

Insider Buying and Selling

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

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.