Robeco Institutional Asset Management B.V. Increases Position in Fortinet, Inc. $FTNT

12 Apr 2026, 10:40 by Kim Johansen · The Markets Daily

Robeco Institutional Asset Management B.V. increased its stake in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 54.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,522,604 shares of the software maker’s stock after purchasing an additional 892,969 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.34% of Fortinet worth $200,320,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Financial Consulate Inc. purchased a new position in shares of Fortinet in the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Fortinet in the 3rd quarter valued at about $25,000. Pinnacle Holdings LLC purchased a new position in shares of Fortinet in the 3rd quarter valued at about $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet in the 3rd quarter valued at about $25,000. Finally, Wexford Capital LP purchased a new position in shares of Fortinet in the 3rd quarter valued at about $25,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the sale, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

FTNT has been the subject of several recent research reports. Robert W. Baird set a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Truist Financial set a $88.00 target price on shares of Fortinet in a report on Tuesday, January 20th. Wells Fargo & Company initiated coverage on shares of Fortinet in a report on Tuesday, March 3rd. They set an “underweight” rating and a $64.00 target price for the company. Royal Bank Of Canada restated a “sector perform” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Friday, February 6th. Finally, BMO Capital Markets raised their target price on shares of Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $87.84.

Check Out Our Latest Stock Analysis on Fortinet

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Analyst/sector pieces continue to list FTNT among cybersecurity names to buy for 2026, citing secular demand for cloud and enterprise security which supports long-term growth potential. Buy These 3 Cybersecurity Stocks to Protect Your Portfolio in 2026
Positive Sentiment: Additional media pieces highlight FTNT alongside peers as a beneficiary of AI-driven and cloud security spending, reinforcing upside case for investors focused on durable demand. Buy These 3 Cybersecurity Stocks to Protect Your Portfolio in 2026 (Yahoo)
Neutral Sentiment: Short-interest data reported for April appears erroneous/zeroed (shows NaN/0 shares and 0.0 days), so there’s no clear short-squeeze signal from the published figure — treat this data with caution. (Entry: short interest update)
Neutral Sentiment: Analyst consensus remains mixed-to-cautious: FTNT carries an average “Hold” and a range of price targets (median ≈ $87), reflecting divergent views on near-term multiple expansion vs. execution/competitive risks. Fortinet Given Average Rating of “Hold” by Analysts
Negative Sentiment: Security vulnerability: Fortinet disclosed CVE-2026-35616 in FortiClient EMS (7.4.5–7.4.6) which has been exploited in the wild; the issue was added to the Known Exploited Vulnerabilities (KEV) list and government agencies urged immediate hotfixing/upgrading. That elevated remediation urgency likely drove the intraday selloff as customers and investors assess operational risk and patch timelines. Fortinet shares fall 4.6% as markets weigh actively exploited FortiClient EMS vulnerability and patch urgency
Negative Sentiment: Sector pressure: wider cybersecurity pullback (big names like CrowdStrike, Palo Alto, Zscaler down sharply) amplified selling in FTNT as investors rotated away from the group amid AI/security uncertainty. CrowdStrike, Other Cybersecurity Stocks Get Crushed
Negative Sentiment: Insider and institutional flows: recent public filings show heavy insider sales by senior executives and large institutional redemptions by some funds — a negative signal for sentiment and potential selling pressure. (Details in Quiver Quant article above.)

Fortinet Stock Performance

NASDAQ:FTNT opened at $76.61 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $81.77 and a two-hundred day moving average price of $81.89. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $109.33. The company has a market capitalization of $56.68 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00.

Fortinet (NASDAQ:FTNT – Get Free Report) last posted its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $0.74 EPS. The firm’s revenue for the quarter 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. As a group, research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Fortinet Profile

(Free Report)

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.