Forum Financial Management LP Reduces Stock Position in Fortinet, Inc. $FTNT

Forum Financial Management LP trimmed its position in Fortinet, Inc. (NASDAQ:FTNT) by 58.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,488 shares of the software maker’s stock after selling 4,990 shares during the period. Forum Financial Management LP’s holdings in Fortinet were worth $285,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FTNT. Norges Bank acquired a new position in shares of Fortinet during the 4th quarter valued at about $1,152,917,000. Van ECK Associates Corp boosted its holdings in Fortinet by 38.9% in the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after purchasing an additional 2,166,396 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after purchasing an additional 1,777,115 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the topic of several recent research reports. Stifel Nicolaus set a $85.00 price target on Fortinet in a report on Wednesday, March 11th. Citigroup increased their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. HSBC cut shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price on the stock. in a research note on Monday. Compass Point set a $100.00 price objective on shares of Fortinet in a report on Monday, May 4th. Finally, Rosenblatt Securities boosted their price objective on Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average price target of $107.58.

Insider Buying and Selling

In other news, 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 value of $23,384,806.56. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the 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 sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This trade represents 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 90 days, insiders sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company’s stock.

Fortinet Price Performance

NASDAQ FTNT opened at $158.98 on Thursday. The stock’s 50-day moving average price is $127.45 and its two-hundred day moving average price is $97.25. 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 company has a market cap of $116.48 billion, a PE ratio of 61.38, a PEG ratio of 4.21 and a beta of 1.09. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $159.80.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the company 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, analysts predict that Fortinet, Inc. will post 2.78 EPS for the current year.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as a strong momentum stock by Zacks, reinforcing the idea that the shares are technically strong and attracting investor interest. Here’s Why Fortinet (FTNT) is a Strong Momentum Stock
• Positive Sentiment: Liquid Networx expanded Fortinet security offerings through AWS and Azure Marketplace, a sign of broader channel reach and potential incremental demand for Fortinet licensing and services. Liquid Networx Expands Fortinet Security Offerings via AWS and Azure Marketplace
• Positive Sentiment: Several recent articles pointed to Fortinet as a potentially top-performing AI/cybersecurity stock, with one noting Barclays raised its price target to $155, which can boost investor confidence. Fortinet (FTNT) Stock Could Be A Top Performer This Year Amid Cautious Guidance
• Neutral Sentiment: Fortinet was included in a list of the most profitable software stocks, which supports the company’s fundamental profile but is not a direct catalyst. 5 Most Profitable Software Stocks to Buy Right Now
• Neutral Sentiment: Bernstein’s Hold rating suggests mixed expectations, while a separate sell recommendation adds caution and may limit enthusiasm around the stock’s near-term upside. Fortinet (FTNT) Gets a Hold from Bernstein Fortinet (FTNT): New Sell Recommendation for This Technology Giant
• Negative Sentiment: Wall Street coverage remains somewhat divided, with cautious guidance still a theme in some commentary, which could temper gains if investors focus on valuation and growth concerns. Here are Tuesday’s Best Wall Street Analyst Research Calls

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.