BI Asset Management Fondsmaeglerselskab A S Has $20.58 Million Holdings in Fortinet, Inc. $FTNT

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Fortinet, Inc. (NASDAQ:FTNT) by 24.4% in the first quarter, HoldingsChannel reports. The firm owned 251,840 shares of the software maker’s stock after selling 81,467 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fortinet were worth $20,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Expressive Wealth LLC bought a new stake in shares of Fortinet in the 4th quarter valued at $646,000. Trilogy Capital Inc. raised its stake in Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after buying an additional 14,076 shares during the period. Leonteq Securities AG bought a new position in Fortinet during the fourth quarter worth about $10,422,000. Thrivent Financial for Lutherans lifted its holdings in Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after acquiring an additional 238,299 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Fortinet in the fourth quarter valued at about $14,638,000. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a report on Tuesday, April 21st. Scotiabank lifted their price objective on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Arete Research set a $104.00 price objective on Fortinet and gave the company a “buy” rating in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Finally, BMO Capital Markets raised their target price on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $107.77.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the company’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 completion of the transaction, 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction that occurred on 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 directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 318,387 shares of company stock worth $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

FTNT opened at $144.73 on Friday. The company has a market capitalization of $106.04 billion, a price-to-earnings ratio of 55.88, a P/E/G ratio of 3.96 and a beta of 1.11. The business’s 50-day moving average price is $116.11 and its two-hundred day moving average price is $93.37. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $150.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share 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 return on equity of 160.08% and a net margin of 27.49%.Fortinet’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period 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 analysts expect that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

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.