RBC Sells Fortinet Shares Amid Strong Demand
Royal Bank of Canada reduced its stake in Fortinet, Inc., selling 569,216 shares during the first quarter.
The bank owned 1,974,224 shares after the sale, a decrease of 22.4% from the previous quarter.
Fortinet's software solutions have seen strong demand for AI infrastructure and other security products, with product revenue surging 52% to $773 million in the latest quarter.