Fortinet (NASDAQ:FTNT) CEO Sells $23,384,806.56 in Stock

Fortinet, Inc. (NASDAQ:FTNT) CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 4th, Ken Xie sold 5,355 shares of Fortinet stock. The shares were sold at an average price of $88.90, for a total value of $476,059.50.

Fortinet Stock Performance

NASDAQ:FTNT opened at $144.68 on Friday. The stock has a 50-day simple moving average of $103.59 and a two-hundred day simple moving average of $88.89. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm has a market capitalization of $106.00 billion, a PE ratio of 55.86, a P/E/G ratio of 4.10 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The business’s 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. Analysts forecast that Fortinet, Inc. will post 2.78 EPS for the current year.

Institutional Investors Weigh In On Fortinet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTNT. Brighton Jones LLC raised its position in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after purchasing an additional 221 shares during the period. Bison Wealth LLC purchased a new stake in Fortinet during the fourth quarter valued at approximately $585,000. HUB Investment Partners LLC raised its position in Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC purchased a new stake in Fortinet during the second quarter valued at approximately $1,136,000. Finally, Quantinno Capital Management LP raised its position in Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several research analyst reports. Robert W. Baird set a $115.00 price objective on Fortinet in a research report on Thursday, May 7th. Arete Research set a $104.00 price objective on Fortinet and gave the company a “buy” rating in a research report on Monday, April 27th. Citigroup boosted their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings downgraded Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Finally, Susquehanna boosted their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.