CIBC Asset Management Inc Has $22.96 Million Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• CIBC Asset Management boosted its Fortinet stake by 29.6% in the fourth quarter, ending with 289,140 shares valued at about $22.96 million.
• Fortinet reported strong quarterly results, with EPS of $0.82 versus the $0.62 estimate and revenue of $1.85 billion, up 20.1% year over year. The company also raised guidance for Q2 2026 and full-year 2026.
• Despite the earnings beat, analysts remain cautious overall: the stock’s consensus rating is Hold with an average price target of $102.69, while insider sales by CEO Ken Xie and VP Michael Xie may add some investor caution.

CIBC Asset Management Inc increased its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 29.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,140 shares of the software maker's stock after acquiring an additional 65,980 shares during the quarter. CIBC Asset Management Inc's holdings in Fortinet were worth $22,961,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC bought a new stake in shares of Fortinet in the 3rd quarter valued at $25,000. Ameriflex Group Inc. bought a new position in Fortinet during the third quarter worth about $25,000. Wexford Capital LP acquired a new position in Fortinet in the third quarter valued at about $25,000. Elyxium Wealth LLC acquired a new position in Fortinet in the fourth quarter valued at about $27,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Fortinet in the third quarter worth about $28,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Stock Up 2.2%

Shares of Fortinet stock opened at $149.67 on Friday. The firm has a market cap of $109.66 billion, a PE ratio of 57.79, a P/E/G ratio of 4.01 and a beta of 1.11. The business's 50 day simple moving average is $102.28 and its 200 day simple moving average is $88.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last released 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The business's 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. On average, analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
• Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
• Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
• Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
• Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Morgan Stanley reaffirmed an "underweight" rating and set a $80.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Stifel Nicolaus set a $85.00 target price on Fortinet in a research note on Wednesday, March 11th. Mizuho raised their target price on shares of Fortinet from $70.00 to $86.00 and gave the stock an "underperform" rating in a report on Thursday, May 7th. Freedom Capital lowered shares of Fortinet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Finally, Robert W. Baird set a $115.00 price target on shares of Fortinet in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $102.69.

Insider Buying and Selling

In other Fortinet news, 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 transaction of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company's stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction 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. 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 90 days, insiders sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by insiders.

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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