Allspring Global Investments Holdings LLC Grows Position in Fortinet, Inc. $FTNT

Allspring Global Investments Holdings LLC lifted its position in Fortinet, Inc. (NASDAQ:FTNT) by 5.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 136,249 shares of the software maker’s stock after purchasing an additional 6,478 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fortinet were worth $11,057,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Physician Wealth Advisors Inc. raised its holdings in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the last quarter. Wexford Capital LP bought a new stake in Fortinet in the 3rd quarter worth $25,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet in the fourth quarter valued at about $27,000. Palisade Asset Management LLC purchased a new position in shares of Fortinet in the third quarter valued at about $28,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Fortinet during the fourth quarter valued at about $29,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Price Performance

FTNT stock opened at $155.05 on Thursday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The company has a market cap of $113.60 billion, a P/E ratio of 59.87, a PEG ratio of 4.30 and a beta of 1.09. The firm has a 50-day moving average of $146.83 and a 200 day moving average of $105.61. 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. The business 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 quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. 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 forecast that Fortinet, Inc. will post 2.8 EPS for the current year.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as one of the better-positioned cybersecurity names to benefit from rising enterprise AI adoption, with demand expected to grow for AI security, identity protection, and Zero Trust solutions. Article Title
• Positive Sentiment: Another note described Fortinet as a GARP candidate, suggesting investors can still find upside in the stock because of its solid growth prospects relative to valuation. Article Title
• Positive Sentiment: Analyst sentiment improved, with Robert W. Baird raising its price target and another report saying a Fortinet analyst is “no longer bearish,” reinforcing confidence in the company’s fundamentals. Article Title
• Positive Sentiment: Fortinet also announced a collaboration with Intel to develop its next-generation Security Processor 6, a sign of continued product innovation and supply-chain diversification. Article Title
• Neutral Sentiment: Broker commentary also warned that cybersecurity valuations remain elevated ahead of earnings, which could limit near-term upside for FTNT despite the company’s strong positioning. Article Title
• Negative Sentiment: Recent market action showed Fortinet trading lower as broader markets moved higher, suggesting some profit-taking or valuation pressure remains in the stock. Article Title

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial set a $183.00 target price on shares of Fortinet and gave the stock a “buy” rating in a report on Tuesday. Stephens set a $115.00 price target on Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. UBS Group upped their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $160.00 price objective on shares of Fortinet in a report on Thursday, July 16th. Finally, Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $121.10.

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred 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 sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents 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. 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.