Livforsakringsbolaget Skandia Omsesidigt Makes New Investment in Fortinet, Inc. $FTNT

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,512 shares of the software maker’s stock, valued at approximately $2,382,000.

Other hedge funds have also modified their holdings of the company. Expressive Wealth LLC bought a new position in shares of Fortinet in the 4th quarter worth approximately $646,000. Transamerica Financial Advisors LLC bought a new stake in shares of Fortinet during the second quarter valued at approximately $492,000. Leonteq Securities AG purchased a new stake in Fortinet in the fourth quarter worth $10,422,000. Eurizon Capital SGR S.p.A. purchased a new stake in Fortinet in the fourth quarter worth $14,638,000. Finally, Thrivent Financial for Lutherans raised its holdings in Fortinet by 156.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stephens set a $115.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Scotiabank restated a “sector perform” rating and issued a $163.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Morgan Stanley reiterated a “positive” rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. The Goldman Sachs Group restated a “buy” rating and set a $190.00 price target on shares of Fortinet in a report on Thursday, July 30th. Finally, DZ Bank cut shares of Fortinet from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $150.91.

Fortinet Stock Performance

Shares of FTNT opened at $166.00 on Friday. The business’s fifty day simple moving average is $157.68 and its two-hundred day simple moving average is $120.40. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $173.89. The company has a market cap of $121.80 billion, a price-to-earnings ratio of 58.45, a P/E/G ratio of 3.28 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Research analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% 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 three months, insiders sold 329,142 shares of company stock valued at $50,731,178. 17.60% of the stock is owned by insiders.

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.