California Public Employees Retirement System Increases Stock Position in Fortinet, Inc. $FTNT

California Public Employees Retirement System boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,252,611 shares of the software maker’s stock after purchasing an additional 104,047 shares during the period. California Public Employees Retirement System’s holdings in Fortinet were worth $102,363,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Expressive Wealth LLC purchased a new stake in shares of Fortinet during the fourth quarter worth about $646,000. Trilogy Capital Inc. grew its stake in Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after purchasing an additional 14,076 shares in the last quarter. Leonteq Securities AG acquired a new stake in Fortinet during the 4th quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. purchased a new stake in Fortinet during the 4th quarter worth approximately $14,638,000. Finally, Thrivent Financial for Lutherans increased its holdings in Fortinet by 156.6% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD SYNNEX was named an approved global distributor for Fortinet, expanding Fortinet’s channel reach and potentially helping sales growth. Fortinet also unveiled planned FortiEndpoint upgrades featuring AI governance, native data loss prevention, and FortiAI-assisted operations, which could strengthen its competitive position in enterprise security. Should Fortinet’s New TD SYNNEX Partnership and AI Endpoint Upgrades Require Action From Fortinet (FTNT) Investors?
• Positive Sentiment: Analysts and market commentary continue to frame Fortinet as a beneficiary of rising agentic AI adoption, which is boosting demand for AI security, identity protection, and threat detection across the cybersecurity sector. 3 Cybersecurity Stocks to Buy Amid Rising Adoption of Agentic AI
• Positive Sentiment: Coverage ahead of earnings points to expectations for double-digit bottom-line growth, suggesting investors are looking for another solid quarter from Fortinet. What to Expect From Fortinet’s Q2 2026 Earnings Report
• Neutral Sentiment: Fortinet remains a closely watched cybersecurity name as investors position for its Q2 2026 results, but the immediate news flow is mostly about expectations rather than a confirmed earnings surprise. What to Expect From Fortinet’s Q2 2026 Earnings Report
• Neutral Sentiment: Brokerage sentiment is mixed, with one update showing a consensus “Hold” rating even as Wall Street Zen upgraded the stock to “Buy,” indicating analysts are not fully aligned on near-term upside. Fortinet, Inc. (NASDAQ:FTNT) Receives Consensus Recommendation of “Hold” from Brokerages Fortinet (NASDAQ:FTNT) Upgraded by Wall Street Zen to “Buy” Rating
• Negative Sentiment: MarketWatch noted that Fortinet underperformed peers on Thursday, which may reflect some profit-taking or caution ahead of earnings despite the broader positive theme. Fortinet Inc. stock underperforms Thursday when compared to competitors

Insider Buying and Selling

In other news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 in the last three months. 17.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FTNT has been the subject of several research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $160.00 target price on shares of Fortinet in a research note on Thursday. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a report on Tuesday, April 21st. Susquehanna upped their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BTIG Research increased their target price on Fortinet from $150.00 to $186.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $113.97.

Fortinet Trading Up 0.5%

NASDAQ FTNT opened at $161.61 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a one year low of $70.12 and a one year high of $170.35. The company has a 50-day simple moving average of $144.30 and a 200-day simple moving average of $103.80. The firm has a market capitalization of $118.40 billion, a PE ratio of 62.40, a price-to-earnings-growth ratio of 4.39 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company posted $0.58 earnings per share. 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 analysts forecast that Fortinet, Inc. will post 2.8 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.