Candriam S.C.A. Grows Holdings in Fortinet, Inc. $FTNT

Candriam S.C.A. lifted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 11.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 328,975 shares of the software maker’s stock after purchasing an additional 34,499 shares during the quarter. Candriam S.C.A.’s holdings in Fortinet were worth $26,884,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Norges Bank purchased a new stake in shares of Fortinet in the 4th quarter valued at $1,152,917,000. Bank of New York Mellon Corp lifted its stake in Fortinet by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after acquiring an additional 893,190 shares in the last quarter. Invesco Ltd. boosted its holdings in Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares during the period. Finally, First Trust Advisors LP grew its position in Fortinet by 4.4% in the 4th quarter. First Trust Advisors LP now owns 7,907,686 shares of the software maker’s stock valued at $627,949,000 after acquiring an additional 332,024 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Down 3.8%

Shares of FTNT stock traded down $6.22 on Friday, reaching $157.51. 3,518,279 shares of the stock were exchanged, compared to its average volume of 5,833,056. The company has a market capitalization of $115.40 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 4.28 and a beta of 1.09. The business’s 50 day moving average price is $137.74 and its 200 day moving average price is $100.94. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $165.28.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, sell-side analysts expect that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 318,387 shares of company stock valued at $43,403,063 over the last three months. 17.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FTNT has been the topic of several research reports. Mizuho increased their price target on shares of Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, May 7th. Piper Sandler increased their target price on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Susquehanna upped their price objective on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. UBS Group increased their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $107.00 target price (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus target price of $108.74.

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.