Securian Asset Management Inc. Sells 14,266 Shares of Fortinet, Inc. $FTNT

Securian Asset Management Inc. lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 45.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,188 shares of the software maker’s stock after selling 14,266 shares during the quarter. Securian Asset Management Inc.’s holdings in Fortinet were worth $1,365,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of FTNT. Pinnacle Holdings LLC bought a new stake in Fortinet during the third quarter valued at $25,000. Ameriflex Group Inc. bought a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Wexford Capital LP bought a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Palisade Asset Management LLC bought a new position in shares of Fortinet during the 3rd quarter worth about $28,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Fortinet during the 4th quarter worth about $29,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Down 1.4%

FTNT opened at $113.87 on Wednesday. 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, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $116.46. The firm has a market capitalization of $83.43 billion, a PE ratio of 43.97, a P/E/G ratio of 3.33 and a beta of 0.92. The company’s 50-day moving average is $85.13 and its 200 day moving average is $82.61.

Fortinet (NASDAQ:FTNT) last posted 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. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The firm’s 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. As a group, research analysts predict that Fortinet, Inc. will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Rosenblatt Securities increased their price objective on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Piper Sandler increased their price objective on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wells Fargo & Company reissued an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Finally, Scotiabank increased their price objective on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $100.45.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the sale, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction 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 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. Corporate insiders own 17.60% of the company’s stock.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet announced a deeper integration of its FortiAIGate solution with NVIDIA’s AI platforms, aimed at securing enterprise AI workloads with zero-trust protection, runtime guardrails, and defenses against prompt injection and data leakage. The partnership highlights Fortinet’s positioning in a fast-growing niche and could support future revenue growth. Article Title
• Positive Sentiment: Multiple articles framed Fortinet as a beneficiary of rising AI spending and post-quantum cybersecurity demand, with analysts and commentators suggesting the company could be an important “AI security” winner. That narrative can attract momentum buyers looking for companies tied to AI infrastructure, not just AI software. Article Title
• Neutral Sentiment: Several market commentary pieces described Fortinet as a high-quality growth or “Cyber-GARP” stock and noted its fresh 52-week high. These articles reinforce positive sentiment, but they do not add new fundamental catalysts beyond the NVIDIA news and broader AI-security theme. Article Title

About Fortinet

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.