BLI Banque de Luxembourg Investments Purchases New Holdings in Fortinet, Inc. $FTNT

BLI Banque de Luxembourg Investments purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 48,000 shares of the software maker’s stock, valued at approximately $3,856,000.

A number of other large investors also recently bought and sold shares of FTNT. Norges Bank purchased a new position in Fortinet during the 4th quarter valued at about $1,152,917,000. Vanguard Group Inc. lifted its position in Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after acquiring an additional 2,894,355 shares during the period. Van ECK Associates Corp increased its stake in Fortinet by 62.1% during the 3rd quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after purchasing an additional 2,132,109 shares in the last quarter. First Trust Advisors LP increased its stake in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares in the last quarter. Finally, Invesco Ltd. increased its stake 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 purchasing an additional 1,568,337 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FTNT. Mizuho raised their price objective on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, May 7th. Freedom Capital lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Scotiabank raised their price objective on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Truist Financial set a $120.00 price objective on shares of Fortinet and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Citigroup raised their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $106.43.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents 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. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 over the last quarter. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Down 3.3%

FTNT opened at $138.39 on Wednesday. The stock has a market capitalization of $101.39 billion, a price-to-earnings ratio of 53.43, a PEG ratio of 3.92 and a beta of 1.11. The firm has a 50 day moving average price of $106.04 and a 200-day moving average price of $89.80. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $150.07. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company 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 firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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. Equities research analysts forecast that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Fortinet 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.