Skandinaviska Enskilda Banken AB publ Sells 564,720 Shares of Fortinet, Inc. $FTNT

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 60.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 371,679 shares of the software maker’s stock after selling 564,720 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Fortinet were worth $31,253,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Fortinet by 6.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock worth $137,800,000 after acquiring an additional 82,937 shares during the period. Allstate Corp acquired a new stake in Fortinet during the 3rd quarter worth approximately $2,034,000. Asset Management One Co. Ltd. lifted its holdings in Fortinet by 4.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock worth $33,824,000 after purchasing an additional 17,892 shares during the last quarter. Warther Private Wealth LLC boosted its stake in Fortinet by 39.7% in the 2nd quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock valued at $19,258,000 after purchasing an additional 51,750 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Fortinet by 465.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock valued at $64,255,000 after buying an additional 622,809 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. Sanford C. Bernstein reissued a “market perform” rating and issued a $83.00 price objective on shares of Fortinet in a report on Friday, February 6th. Oppenheimer restated a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Jefferies Financial Group set a $90.00 price target on Fortinet in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. upped their target price on Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and a consensus price target of $89.42.

Insider Buying and Selling

In other news, VP Michael Xie sold 343,106 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the sale, the chief executive officer directly owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 18.00% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $81.69 on Wednesday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $80.56 and its 200 day simple moving average is $81.71. The firm has a market capitalization of $60.75 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.95 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

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.