Truist Financial Corp Has $2 Million Stock Holdings in Fortinet, Inc. $FTNT

Truist Financial Corp decreased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 16.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,148 shares of the software maker’s stock after selling 5,024 shares during the quarter. Truist Financial Corp’s holdings in Fortinet were worth $1,997,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. PDS Planning Inc lifted its holdings in Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after buying an additional 123 shares in the last quarter. Delta Investment Management LLC lifted its holdings in Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after buying an additional 125 shares in the last quarter. Fiduciary Trust Co lifted its holdings in Fortinet by 1.2% during the 3rd quarter. Fiduciary Trust Co now owns 10,823 shares of the software maker’s stock worth $910,000 after buying an additional 130 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Fortinet by 40.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 481 shares of the software maker’s stock worth $40,000 after buying an additional 139 shares in the last quarter. Finally, Optimist Retirement Group LLC lifted its holdings in Fortinet by 2.9% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,888 shares of the software maker’s stock worth $411,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

FTNT stock opened at $117.69 on Thursday. The business’s fifty day moving average is $85.90 and its 200-day moving average is $82.84. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company has a market cap of $86.23 billion, a P/E ratio of 45.44, a price-to-earnings-growth ratio of 3.29 and a beta of 0.92. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $117.84.

Fortinet (NASDAQ:FTNT) last released 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. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The firm’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. Equities research analysts forecast that Fortinet, Inc. will post 2.64 EPS for the current year.

Insiders Place Their Bets

In related news, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the sale, the vice president owned 9,927,517 shares in the company, valued at $882,456,986.13. This represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 52,978,004 shares of the company’s stock, valued at approximately $4,709,744,555.60. This represents a 0.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is owned by corporate insiders.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet announced a deeper integration with NVIDIA to secure enterprise AI at scale, including zero-trust protection, runtime guardrails, and defenses against prompt injection and data leakage. Fortinet NVIDIA Alliance Puts AI Cybersecurity And Valuation Expectations In Focus
• Positive Sentiment: The NVIDIA partnership could strengthen Fortinet’s positioning in the fast-growing AI infrastructure market and support longer-term revenue opportunities from enterprise AI security. Fortinet Deepens Integration to Uniquely Secure Enterprise AI at Scale with NVIDIA
• Neutral Sentiment: Multiple articles highlighted Fortinet’s strong long-term stock performance, including a 10-year return that far outpaced the market, but this is mainly a retrospective look rather than a fresh business catalyst. $100 Invested In Fortinet 10 Years Ago Would Be Worth This Much Today
• Neutral Sentiment: Other commentary noted Fortinet as an AI-adjacent cybersecurity beneficiary, but also reflected broader debate about whether some AI-linked stocks have risen too far, which may temper enthusiasm. AI Rally May Have Gone Too Far With Some Stocks Up 70% in a Month

Analysts Set New Price Targets

Several research analysts have issued reports on FTNT shares. Weiss Ratings raised Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. TD Cowen reissued a “buy” rating and issued a $125.00 price target (up from $100.00) on shares of Fortinet in a research note on Thursday, May 7th. Stephens set a $115.00 price target on Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. UBS Group increased their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target on shares of Fortinet in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet has an average rating of “Hold” and an average price target of $100.45.

Fortinet Company 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.