Bokf Na Trims Stake in Fortinet, Inc. $FTNT

Bokf Na lowered its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,434 shares of the software maker’s stock after selling 4,663 shares during the quarter. Bokf Na’s holdings in Fortinet were worth $2,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of FTNT. Vanguard Group Inc. increased its position in shares of Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after buying an additional 2,894,355 shares during the period. Van ECK Associates Corp increased its position in shares of Fortinet by 62.1% during the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after buying an additional 2,132,109 shares during the period. First Trust Advisors LP increased its position in shares of Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after buying an additional 1,790,033 shares during the period. Invesco Ltd. increased its position 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 buying an additional 1,568,337 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Fortinet by 23.1% during the third quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock valued at $430,082,000 after buying an additional 969,899 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 20.0%

NASDAQ:FTNT opened at $107.97 on Friday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $112.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The company’s 50-day simple moving average is $82.97 and its 200 day simple moving average is $81.98. The firm has a market capitalization of $79.04 billion, a P/E ratio of 41.69, a PEG ratio of 3.08 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 149.52%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, analysts forecast that Fortinet, Inc. will post 2.63 EPS for the current fiscal year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported a blowout Q1: revenue +20% YoY to $1.85B, billings +31%, product revenue +41%, strong margins and record cash flow; management raised Q2 and FY?2026 guidance, which underpins the rally. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: Fortinet expanded its FortiGate G series (3500G/400G) targeting AI/data?center security — a product push that supports the company’s positioning in AI-driven security demand. Fortinet Expands FortiGate G Series
• Positive Sentiment: Multiple sell?side firms raised price targets and in some cases upgraded the stock (notable: Rosenblatt and BTIG raised targets to $125 with buy calls), reinforcing the upside narrative after the results. Analyst Notes & Price Target Moves
• Neutral Sentiment: UBS increased its price target to $115 but kept a “neutral” rating — the higher target supports valuation but UBS did not move to a buy stance. UBS Price Target Raise
• Neutral Sentiment: Insider sale disclosed: VP Michael Xie sold shares under a 10b5?1 plan to cover taxes on vested awards — routine but may draw attention from some traders. Insider Sale Disclosure
• Negative Sentiment: Some banks raised targets while keeping conservative stances: JPMorgan lifted its target to $75 but kept an “underweight” call (large downside vs. current levels), and Mizuho moved its PT to $86 with an “underperform” rating — these notes could cap upside if optimism fades. JPMorgan / Mizuho Research Notes
• Negative Sentiment: Background analyst mix and some institutional trimming remain (several holds and sell ratings still on tape); if future quarters slow or AI tailwinds disappoint, valuation could be pressured. Institutional & Analyst Coverage Context

Insider Activity at Fortinet

In other news, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the transaction, the vice president directly owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This represents a 0.02% 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. 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, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the transaction, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. The trade was a 0.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FTNT shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th. Freedom Capital cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. UBS Group boosted their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup reiterated a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Monday, February 9th. Finally, Piper Sandler boosted their price objective on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $99.04.

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.