Prudential PLC Sells 10,848 Shares of Fortinet, Inc. $FTNT

Prudential PLC decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 47.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,088 shares of the software maker’s stock after selling 10,848 shares during the period. Prudential PLC’s holdings in Fortinet were worth $960,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of FTNT. Pinnacle Holdings LLC bought a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Wexford Capital LP bought a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Elyxium Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter valued at about $27,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Fortinet during the 3rd quarter valued at about $28,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $144.68 on Monday. The business has a 50 day moving average of $103.59 and a 200 day moving average of $88.94. The company has a market capitalization of $106.00 billion, a price-to-earnings ratio of 55.86, a PEG ratio of 3.96 and a beta of 1.11. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $150.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company 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, sell-side analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FTNT shares. Piper Sandler lifted their price target on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. TD Cowen reiterated a “buy” rating and set a $125.00 price target (up from $100.00) on shares of Fortinet in a research report on Thursday, May 7th. Scotiabank lifted their price target on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Finally, Compass Point set a $100.00 price target on Fortinet in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $102.69.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last quarter. 17.60% of the stock is owned by insiders.

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.