UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Holdings in Fortinet, Inc. $FTNT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Fortinet, Inc. (NASDAQ:FTNT) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,312,496 shares of the software maker’s stock after selling 1,241,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.86% of Fortinet worth $969,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FTNT. BlackRock Inc. purchased a new position in Fortinet in the 2nd quarter valued at approximately $9,561,650,000. State Street Corp grew its holdings in Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Norges Bank acquired a new stake in Fortinet in the fourth quarter valued at $1,152,917,000. Bank of New York Mellon Corp increased its position in shares of Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after buying an additional 893,190 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after buying an additional 3,598,487 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Fortinet

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

Several equities research analysts recently commented on FTNT shares. Bank of America reiterated a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. DZ Bank cut shares of Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $190.00 price target on shares of Fortinet in a research report on Thursday, July 30th. BTIG Research raised their price objective on shares of Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Compass Point set a $100.00 price objective on Fortinet in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Fortinet has an average rating of “Hold” and an average price target of $150.91.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $166.00 on Friday. The company has a 50-day simple moving average of $157.68 and a 200-day simple moving average of $120.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The company has a market cap of $121.80 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 3.15 and a beta of 1.07. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $173.89.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last 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. On average, equities analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their position. The sale was disclosed in a 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, 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 directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. This represents 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 329,142 shares of company stock worth $50,731,178 in the last 90 days. Insiders own 17.60% of the company’s stock.

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.