38,300 Shares in Fortinet, Inc. $FTNT Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp bought 38,300 Fortinet shares in the second quarter, valued at approximately $5.9 million. Institutional investors own 83.71% of FTNT, with several major funds also increasing or initiating positions.
• Fortinet reported stronger-than-expected quarterly results, with EPS of $0.90 versus the $0.75 consensus and revenue of $2.05 billion, up 25.6% year over year. The company provided fiscal 2026 EPS guidance of $3.41–$3.47.
• FTNT trades near $151.99, while analysts maintain a consensus “Hold” rating and an average price target of $150.91. Recent insider sales totaled 329,142 shares worth about $50.7 million, largely under pre-arranged trading plans.

OMERS ADMINISTRATION Corp bought a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 38,300 shares of the software maker's stock, valued at approximately $5,884,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTNT. BlackRock Inc. bought a new stake in Fortinet during the 2nd quarter worth approximately $9,561,650,000. State Street Corp raised its stake in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker's stock valued at $2,493,860,000 after acquiring an additional 477,397 shares during the last quarter. Norges Bank acquired a new position in shares of Fortinet during the fourth quarter worth $1,152,917,000. Bank of New York Mellon Corp lifted its holdings in shares of Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker's stock worth $1,151,810,000 after purchasing an additional 893,190 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Fortinet by 45.5% in the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker's stock worth $940,284,000 after purchasing an additional 3,598,487 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. The trade was 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 329,142 shares of company stock worth $50,731,178 in the last three months. Insiders own 17.60% of the company's stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $151.99 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The company has a fifty day moving average of $156.29 and a 200-day moving average of $118.38. The firm has a market capitalization of $111.52 billion, a P/E ratio of 53.52, a P/E/G ratio of 2.91 and a beta of 1.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet's revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FTNT. Citigroup raised their target price on Fortinet from $165.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. The Goldman Sachs Group reiterated a "buy" rating and issued a $190.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Piper Sandler reissued a "neutral" rating and issued a $175.00 price target (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. Wolfe Research set a $175.00 price objective on Fortinet in a research report on Thursday, July 30th. Finally, Stephens set a $115.00 price objective on Fortinet and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $150.91.

Fortinet Profile

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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