Allspring Global Investments Holdings LLC Acquires 6,478 Shares of Fortinet, Inc. $FTNT

Allspring Global Investments Holdings LLC grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 5.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 136,249 shares of the software maker’s stock after acquiring an additional 6,478 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fortinet were worth $11,057,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FTNT. Expressive Wealth LLC bought a new position in Fortinet during the 4th quarter valued at about $646,000. Trilogy Capital Inc. grew its stake in shares of Fortinet by 46.8% in the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after acquiring an additional 14,076 shares during the period. Leonteq Securities AG purchased a new position in shares of Fortinet during the fourth quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Fortinet during the fourth quarter valued at approximately $14,638,000. Finally, Thrivent Financial for Lutherans lifted its position in Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after purchasing an additional 238,299 shares during the period. 83.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FTNT shares. Rosenblatt Securities raised their target price on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Piper Sandler increased their price target on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. TD Cowen reiterated a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective for the company. in a research report on Monday, June 29th. Finally, Morgan Stanley upgraded Fortinet from an “underweight” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $133.00 in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $121.10.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of Fortinet 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 completion of the sale, 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 position. 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 three months, insiders have sold 318,387 shares of company stock worth $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Fortinet Trading Down 1.9%

Fortinet stock opened at $155.05 on Thursday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The firm’s 50 day moving average price is $146.83 and its 200-day moving average price is $105.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock has a market cap of $113.60 billion, a P/E ratio of 59.87, a PEG ratio of 4.30 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business 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. On average, equities analysts predict that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as one of the better-positioned cybersecurity names to benefit from rising enterprise AI adoption, with demand expected to grow for AI security, identity protection, and Zero Trust solutions. Article Title
• Positive Sentiment: Another note described Fortinet as a GARP candidate, suggesting investors can still find upside in the stock because of its solid growth prospects relative to valuation. Article Title
• Positive Sentiment: Analyst sentiment improved, with Robert W. Baird raising its price target and another report saying a Fortinet analyst is “no longer bearish,” reinforcing confidence in the company’s fundamentals. Article Title
• Positive Sentiment: Fortinet also announced a collaboration with Intel to develop its next-generation Security Processor 6, a sign of continued product innovation and supply-chain diversification. Article Title
• Neutral Sentiment: Broker commentary also warned that cybersecurity valuations remain elevated ahead of earnings, which could limit near-term upside for FTNT despite the company’s strong positioning. Article Title
• Negative Sentiment: Recent market action showed Fortinet trading lower as broader markets moved higher, suggesting some profit-taking or valuation pressure remains in the stock. Article Title

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.