Royal London Asset Management Ltd. Lowers Stake in Fortinet, Inc. $FTNT

Royal London Asset Management Ltd. lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047,940 shares of the software maker’s stock after selling 24,154 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Fortinet were worth $83,217,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Fortinet by 1.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,667,582 shares of the software maker’s stock valued at $132,423,000 after buying an additional 15,899 shares during the last quarter. Ieq Capital LLC increased its position in Fortinet by 141.1% in the fourth quarter. Ieq Capital LLC now owns 366,911 shares of the software maker’s stock worth $29,136,000 after purchasing an additional 214,711 shares during the last quarter. Titan Investment Solutions Ltd bought a new stake in Fortinet in the fourth quarter worth $18,920,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Fortinet by 4.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,615,443 shares of the software maker’s stock worth $525,332,000 after purchasing an additional 251,449 shares during the last quarter. Finally, Banco Santander S.A. increased its position in Fortinet by 1.9% in the fourth quarter. Banco Santander S.A. now owns 48,763 shares of the software maker’s stock worth $3,872,000 after purchasing an additional 925 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FTNT. TD Cowen restated a “buy” rating and issued a $160.00 price target (up from $125.00) on shares of Fortinet in a research report on Monday. Susquehanna increased their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Compass Point set a $100.00 price target on shares of Fortinet in a report on Monday, May 4th. BTIG Research increased their price target on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Barclays set a $155.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $107.77.

Insider Buying and Selling

In other news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction dated 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 transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by insiders.

Fortinet Trading Up 0.9%

Fortinet stock opened at $146.30 on Friday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $150.07. The firm has a market cap of $107.19 billion, a PE ratio of 56.49, a P/E/G ratio of 3.97 and a beta of 1.11. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $109.80 and its two-hundred day simple moving average is $91.08.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

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.