USS Investment Management Ltd Raises Stake in Fortinet, Inc. $FTNT

02 Jul 2026, 11:41 by Mitch Edgeman · The Markets Daily

USS Investment Management Ltd lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 7.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 113,687 shares of the software maker’s stock after buying an additional 7,578 shares during the quarter. USS Investment Management Ltd’s holdings in Fortinet were worth $9,291,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet in the third quarter valued at about $25,000. Ameriflex Group Inc. purchased a new position in Fortinet in the 3rd quarter worth approximately $25,000. Wexford Capital LP acquired a new stake in Fortinet in the third quarter valued at approximately $25,000. Elyxium Wealth LLC acquired a new stake in Fortinet in the fourth quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Fortinet during the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $158.98 on Thursday. The company has a market cap of $116.48 billion, a P/E ratio of 61.38, a PEG ratio of 4.21 and a beta of 1.09. The business has a 50 day moving average of $127.45 and a two-hundred day moving average of $97.25. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $159.80. 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 (NASDAQ:FTNT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm earned $0.58 EPS. 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, analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by insiders.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Fortinet was highlighted as a strong momentum stock by Zacks, reinforcing the idea that the shares are technically strong and attracting investor interest. Here’s Why Fortinet (FTNT) is a Strong Momentum Stock
Positive Sentiment: Liquid Networx expanded Fortinet security offerings through AWS and Azure Marketplace, a sign of broader channel reach and potential incremental demand for Fortinet licensing and services. Liquid Networx Expands Fortinet Security Offerings via AWS and Azure Marketplace
Positive Sentiment: Several recent articles pointed to Fortinet as a potentially top-performing AI/cybersecurity stock, with one noting Barclays raised its price target to $155, which can boost investor confidence. Fortinet (FTNT) Stock Could Be A Top Performer This Year Amid Cautious Guidance
Neutral Sentiment: Fortinet was included in a list of the most profitable software stocks, which supports the company’s fundamental profile but is not a direct catalyst. 5 Most Profitable Software Stocks to Buy Right Now
Neutral Sentiment: Bernstein’s Hold rating suggests mixed expectations, while a separate sell recommendation adds caution and may limit enthusiasm around the stock’s near-term upside. Fortinet (FTNT) Gets a Hold from Bernstein Fortinet (FTNT): New Sell Recommendation for This Technology Giant
Negative Sentiment: Wall Street coverage remains somewhat divided, with cautious guidance still a theme in some commentary, which could temper gains if investors focus on valuation and growth concerns. Here are Tuesday’s Best Wall Street Analyst Research Calls

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FTNT shares. Morgan Stanley restated an “underweight” rating and issued a $80.00 target price on shares of Fortinet in a research note on Thursday, May 7th. UBS Group lifted their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. BMO Capital Markets boosted their price objective on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $107.00 price objective (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. Finally, Stifel Nicolaus set a $85.00 target price on Fortinet in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.58.

Check Out Our Latest Research Report on Fortinet

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.

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.

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