Fortinet, Inc. $FTNT Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Fortinet, Inc. (NASDAQ:FTNT) by 2.7% during the 1st quarter, HoldingsChannel reports. The firm owned 808,204 shares of the software maker’s stock after acquiring an additional 20,970 shares during the quarter. Principal Financial Group Inc.’s holdings in Fortinet were worth $66,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wexford Capital LP purchased a new stake in shares of Fortinet in the third quarter worth about $25,000. Physician Wealth Advisors Inc. raised its holdings in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the period. Palisade Asset Management LLC acquired a new position in Fortinet during the 3rd quarter worth approximately $28,000. Elyxium Wealth LLC purchased a new position in Fortinet in the 4th quarter worth approximately $27,000. Finally, Maseco LLP purchased a new position in Fortinet in the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 of the company’s stock, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. 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 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company’s stock.

Fortinet Stock Down 2.3%

Shares of NASDAQ:FTNT opened at $160.78 on Friday. The firm has a market cap of $117.80 billion, a PE ratio of 62.08, a price-to-earnings-growth ratio of 4.47 and a beta of 1.09. The company has a fifty day simple moving average of $143.35 and a 200 day simple moving average of $103.39. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $170.35.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 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 the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior 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. On average, equities research analysts anticipate that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price objective on shares of Fortinet in a research note on Thursday, May 7th. Susquehanna upped their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Wells Fargo & Company reiterated an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Finally, Scotiabank upped their price objective on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average target price of $113.97.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was upgraded by Zacks Research from hold to strong-buy, signaling stronger earnings optimism and a potentially more favorable near-term trading setup. Article Title
• Positive Sentiment: Several articles highlighted Fortinet as a beneficiary of rising cybersecurity demand, especially as AI infrastructure spending and global threat concerns keep security budgets elevated. Article Title
• Positive Sentiment: Coverage on Fortinet’s AI security initiatives, including the expansion of FortiEndpoint and broader AI cybersecurity positioning, is reinforcing the growth narrative around the stock. Article Title
• Positive Sentiment: Fortinet’s selection of TD SYNNEX as a global delivery/distribution partner adds another sign of expanding channel reach and customer access. Article Title
• Neutral Sentiment: MarketWatch noted that Fortinet has been outperforming peers despite weakness in the broader session, suggesting relative strength rather than a fresh fundamental catalyst. Article Title
• Neutral Sentiment: Some commentary compared Fortinet with peers like Palo Alto and Microsoft, but also raised valuation concerns after a strong multi-year run, which may cap upside if growth does not keep pace. Article Title

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.