Pictet Asset Management Holding SA Increases Position in Fortinet, Inc. $FTNT

Pictet Asset Management Holding SA boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,287,041 shares of the software maker’s stock after acquiring an additional 131,048 shares during the quarter. Pictet Asset Management Holding SA owned 0.44% of Fortinet worth $268,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Fortinet in the 4th quarter worth $1,152,917,000. Van ECK Associates Corp boosted its position in Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after buying an additional 2,166,396 shares during the period. First Trust Advisors LP grew its stake in shares of Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after buying an additional 1,790,033 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Fortinet by 76.2% during the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after buying an additional 1,777,115 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $151.35 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $152.77. The stock has a market capitalization of $110.89 billion, a P/E ratio of 58.44, a P/E/G ratio of 4.14 and a beta of 1.11. The company’s 50-day moving average is $123.02 and its 200 day moving average is $95.61. 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 issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.73 billion. During the same period last year, the business posted $0.58 earnings per share. Fortinet’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. On average, sell-side analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FTNT. Rosenblatt Securities boosted their target price on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Piper Sandler boosted their price objective on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. BTIG Research increased their price objective on Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Susquehanna raised their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $107.00 price target (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $107.77.

Insider Activity

In other Fortinet news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 in the last quarter. 17.60% of the stock is owned by company insiders.

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.