AEGON ASSET MANAGEMENT UK Plc Has $21.17 Million Holdings in Fortinet, Inc. $FTNT

AEGON ASSET MANAGEMENT UK Plc raised its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 3,003.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 259,004 shares of the software maker’s stock after buying an additional 250,657 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Fortinet were worth $21,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet during the third quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new stake in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Wexford Capital LP acquired a new position in Fortinet in the 3rd quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Fortinet in the 3rd quarter worth approximately $28,000. Finally, Elyxium Wealth LLC purchased a new position in Fortinet during the 4th quarter worth approximately $27,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FTNT has been the topic of several recent analyst reports. Wells Fargo & Company reissued an “underweight” rating and set a $70.00 target price (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. Citigroup raised their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Arete Research set a $104.00 price target on Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. upped their price target on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Finally, Truist Financial set a $120.00 price objective on Fortinet 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-five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and a consensus target price of $107.77.

Insider Transactions at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated 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 owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by insiders.

Fortinet Price Performance

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

Fortinet (NASDAQ:FTNT) last released its 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 net margin of 27.49% and a return on equity of 160.08%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. On average, research analysts predict 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.