KBC Group NV Trims Holdings in Fortinet, Inc. $FTNT

KBC Group NV decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,324 shares of the software maker’s stock after selling 16,259 shares during the period. KBC Group NV’s holdings in Fortinet were worth $25,115,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FTNT. SEB Asset Management AB bought a new stake in Fortinet in the first quarter valued at $25,911,000. Swiss National Bank raised its holdings in Fortinet by 3.9% in the 1st quarter. Swiss National Bank now owns 1,855,100 shares of the software maker’s stock worth $151,599,000 after purchasing an additional 70,300 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Fortinet by 9.1% in the 1st quarter. California Public Employees Retirement System now owns 1,252,611 shares of the software maker’s stock worth $102,363,000 after purchasing an additional 104,047 shares during the period. Kesler Norman & Wride LLC boosted its stake in shares of Fortinet by 17.2% during the 1st quarter. Kesler Norman & Wride LLC now owns 14,142 shares of the software maker’s stock valued at $1,156,000 after purchasing an additional 2,080 shares in the last quarter. Finally, Kera Capital Partners Inc. boosted its stake in shares of Fortinet by 57.9% during the 1st quarter. Kera Capital Partners Inc. now owns 6,172 shares of the software maker’s stock valued at $504,000 after purchasing an additional 2,264 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated 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 owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last quarter. Corporate insiders own 17.60% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Intel and Fortinet announced a collaboration to develop Fortinet’s next-generation Security Processor 6, with Fortinet becoming Intel Foundry’s first publicly named cybersecurity chip customer. The deal highlights demand for Fortinet’s hardware and could strengthen its supply chain and product roadmap. Intel (INTC) Lands Fortinet As First Named Cybersecurity Customer For Its Foundry
• Positive Sentiment: Wall Street analysts turned more constructive on Fortinet, with one upgrade and another raising the price target while maintaining a Hold rating. The revisions suggest confidence in Fortinet’s fundamentals, even if valuation remains a concern. This Fortinet Analyst Is No Longer Bearish; Here Are Top 4 Upgrades For Tuesday Fortinet Price Target Raised to $140 as Strong Fundamentals Clash With Stretch Valuation, Supporting a Hold Rating
• Neutral Sentiment: Cybersecurity stocks remain in favor as investors rotate away from some AI and semiconductor names, which supports Fortinet’s sector backdrop. Cybersecurity Stocks Are Holding Up as the AI Trade Starts to Crack (FTNT)
• Negative Sentiment: Despite the positive headlines, Fortinet is still seen as expensive by some analysts, and Morgan Stanley warned that lofty cybersecurity valuations could limit upside ahead of earnings. Cybersecurity Stocks’ Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

Fortinet Price Performance

FTNT stock opened at $158.10 on Wednesday. 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 50 day moving average price of $146.08 and a 200-day moving average price of $105.08. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $170.35. The firm has a market capitalization of $115.83 billion, a price-to-earnings ratio of 61.04, a PEG ratio of 4.36 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. 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 2.8 EPS for the current fiscal year.

Analyst Ratings Changes

FTNT has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. UBS Group lifted their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. William Blair reiterated a “market perform” rating on shares of Fortinet in a report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research report on Tuesday, April 21st. Finally, TD Cowen restated a “buy” rating and issued a $215.00 target price (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus target price of $119.48.

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.