PNC Financial Services Group Inc. Sells 11,136 Shares of Fortinet, Inc. $FTNT

PNC Financial Services Group Inc. decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 436,081 shares of the software maker’s stock after selling 11,136 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.06% of Fortinet worth $35,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FTNT. Expressive Wealth LLC bought a new stake in shares of Fortinet in the fourth quarter valued at about $646,000. Trilogy Capital Inc. increased its position in Fortinet by 46.8% during the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after acquiring an additional 14,076 shares during the period. Leonteq Securities AG acquired a new stake in Fortinet in the 4th quarter worth about $10,422,000. Eurizon Capital SGR S.p.A. acquired a new stake in Fortinet in the 4th quarter worth about $14,638,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after purchasing an additional 238,299 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FTNT shares. 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. Rosenblatt Securities lifted their price target on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. BMO Capital Markets boosted their price target on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Piper Sandler increased their price target on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Mizuho set a $125.00 price objective on Fortinet and gave the stock an “underperform” rating in a research note on Wednesday, July 15th. Two 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 assigned a Sell rating to the company. According to MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average target price of $123.61.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were 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 approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. 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. Over the last quarter, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is currently owned by company insiders.

Fortinet Stock Performance

Shares of FTNT opened at $151.54 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock’s fifty day moving average price is $147.43 and its two-hundred day moving average price is $106.13. The firm has a market cap of $111.03 billion, a PE ratio of 58.51, a PEG ratio of 4.22 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. 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, equities research analysts forecast that Fortinet, Inc. will post 2.8 EPS for the current year.

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.