Michael Xie Sells 3,907 Shares of Fortinet (NASDAQ:FTNT) Stock

Fortinet, Inc. (NASDAQ:FTNT) VP Michael Xie sold 3,907 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Xie also recently made the following trade(s):

• On Monday, May 4th, Michael Xie sold 2,478 shares of Fortinet stock. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42.

Fortinet Stock Up 2.2%

Fortinet stock opened at $149.67 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07. The firm’s fifty day moving average is $102.28 and its 200 day moving average is $88.50. The company has a market capitalization of $109.66 billion, a PE ratio of 57.79, a PEG ratio of 4.01 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS 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 business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $0.58 earnings per share. The business’s quarterly revenue was up 20.1% on a year-over-year basis. 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, sell-side analysts predict that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortinet

A number of hedge funds have recently made changes to their positions in FTNT. Expressive Wealth LLC purchased a new position in Fortinet in the fourth quarter valued at approximately $646,000. Trilogy Capital Inc. increased its position in Fortinet by 46.8% in the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after buying an additional 14,076 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in Fortinet in the third quarter worth $1,177,000. Leonteq Securities AG bought a new stake in shares of Fortinet in the fourth quarter valued at $10,422,000. Finally, Victory Capital Management Inc. raised its stake in shares of Fortinet by 5.8% in the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock valued at $138,874,000 after buying an additional 90,284 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
• Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
• Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
• Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
• Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Analyst Upgrades and Downgrades

FTNT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price target on shares of Fortinet in a research report on Thursday, May 7th. BMO Capital Markets upped their target price on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $107.00 target price (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. UBS Group raised their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, TD Cowen restated a “buy” rating and set a $125.00 price target (up from $100.00) on shares of Fortinet in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $102.69.

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.