OLD National Bancorp IN Acquires 12,077 Shares of Fortinet, Inc. $FTNT

OLD National Bancorp IN boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 5.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 229,509 shares of the software maker’s stock after acquiring an additional 12,077 shares during the quarter. OLD National Bancorp IN’s holdings in Fortinet were worth $18,755,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FTNT. Optimist Retirement Group LLC raised its position in shares of Fortinet by 2.5% in the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after acquiring an additional 122 shares in the last quarter. PDS Planning Inc boosted its position in Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after purchasing an additional 123 shares in the last quarter. GW&K Investment Management LLC grew its stake in Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after purchasing an additional 123 shares during the last quarter. Delta Investment Management LLC grew its stake in Fortinet by 2.4% in the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after purchasing an additional 125 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in Fortinet by 2.0% in the fourth quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock worth $513,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of FTNT stock opened at $149.93 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $151.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm has a market capitalization of $109.85 billion, a price-to-earnings ratio of 57.89, a PEG ratio of 3.98 and a beta of 1.11. The stock’s 50-day simple moving average is $121.59 and its 200-day simple moving average is $95.22.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates 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 period 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. As a group, equities analysts forecast that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Analysts and media highlighted Fortinet’s AI-driven security push, including the FortiSOC launch, with demand trends and recent strong earnings fueling expectations for continued growth momentum. Is Fortinet Stock Poised for Strong Growth With AI-Driven Security?
• Positive Sentiment: Fortinet was also featured as an IBD Stock of the Day after investors focused on its network firewall products benefiting from AI data center buildouts, where more server traffic creates greater demand for security tools. Fortinet, IBD Stock Of The Day, Gets Network Firewall Boost From AI Data Centers
• Positive Sentiment: The company announced Derek Kan will join its board of directors, adding public-sector, AI, and technology operating experience that could be viewed as a strategic governance positive. Fortinet Appoints Public Sector Leader and Tech Executive Derek Kan to Its Board of Directors
• Neutral Sentiment: Several additional articles repeated the same growth and AI-security themes, reinforcing the bullish narrative rather than adding new catalysts. Is Fortinet Stock Poised for Strong Growth With AI-Driven Security?
• Neutral Sentiment: One market commentary noted broader tech stocks rebounding, which may have provided a supportive backdrop for FTNT, but was not specific to Fortinet. Dow Jones Futures: Nasdaq Set To Regain Key Level As Korea’s Kospi Rebounds, Micron Due; FedEx, Cerebras Tumble
• Negative Sentiment: Seeking Alpha warned that while Fortinet’s growth story is real, the valuation may also be stretched, which could temper upside if investors become more price-sensitive. Fortinet: The Growth Story Is Real, But So Is The Price Tag

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Zacks Research downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Stephens set a $115.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. BMO Capital Markets raised their target price on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Finally, TD Cowen reaffirmed a “buy” rating and set a $160.00 price target (up from $125.00) on shares of Fortinet in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $107.77.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company’s stock.

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.