Union Bancaire Privee UBP SA Sells 23,273 Shares of Fortinet, Inc. $FTNT

Union Bancaire Privee UBP SA decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 13.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 153,299 shares of the software maker’s stock after selling 23,273 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Fortinet were worth $11,801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FTNT. State Street Corp boosted its holdings in Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after acquiring an additional 477,397 shares during the period. Norges Bank bought a new stake in shares of Fortinet during the fourth quarter worth $1,152,917,000. Bank of New York Mellon Corp lifted its position in shares of Fortinet by 6.6% during the fourth 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 purchasing an additional 893,190 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Fortinet by 17.0% during the third 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 during the period. Finally, First Trust Advisors LP boosted its stake in shares of Fortinet by 4.4% during the fourth quarter. First Trust Advisors LP now owns 7,907,686 shares of the software maker’s stock valued at $627,949,000 after purchasing an additional 332,024 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fortinet news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction 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 transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, 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. Over the last ninety days, insiders sold 318,387 shares of company stock worth $43,403,063. Insiders own 17.60% of the company’s stock.

Fortinet Stock Up 0.9%

FTNT opened at $151.35 on Friday. The stock has a market capitalization of $110.89 billion, a price-to-earnings ratio of 58.44, a PEG ratio of 4.10 and a beta of 1.11. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $152.77. 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 company has a fifty day moving average of $123.02 and a two-hundred day moving average of $95.61.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.58 earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year. 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 expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Scotiabank raised their price target on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $107.00 target price (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. Susquehanna lifted their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Compass Point set a $100.00 target price on Fortinet in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $107.77.

Fortinet Company 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.