Cibc World Market Inc. Buys 8,870 Shares of Fortinet, Inc. $FTNT

Key Points

• Cibc World Market Inc. increased its Fortinet stake by 13.2% in the fourth quarter, buying 8,870 additional shares and bringing its total to 76,301 shares valued at about $6.06 million.
• Fortinet reported better-than-expected quarterly results, with EPS of $0.82 and revenue of $1.85 billion, both ahead of analyst estimates. The company also raised guidance for fiscal 2026.
• Despite strong fundamentals and momentum, insider selling has been notable, including recent sales by CEO Ken Xie and COO John Whittle, while analysts currently rate the stock a consensus Hold with a $102.69 price target.

Cibc World Market Inc. increased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,301 shares of the software maker's stock after purchasing an additional 8,870 shares during the quarter. Cibc World Market Inc.'s holdings in Fortinet were worth $6,059,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Expressive Wealth LLC bought a new stake in shares of Fortinet during the fourth quarter worth about $646,000. Trilogy Capital Inc. grew its holdings in shares of Fortinet by 46.8% during the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock worth $3,506,000 after purchasing an additional 14,076 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Fortinet during the fourth quarter worth about $10,422,000. Victory Capital Management Inc. grew its holdings in shares of Fortinet by 5.8% during the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker's stock worth $138,874,000 after purchasing an additional 90,284 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Fortinet during the fourth quarter worth about $14,638,000. 83.71% of the stock is owned by institutional investors.

Fortinet Price Performance

Shares of FTNT opened at $144.68 on Monday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The business's 50 day moving average price is $103.59 and its two-hundred day moving average price is $88.94. The firm has a market cap of $106.00 billion, a PE ratio of 55.86, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the firm earned $0.58 earnings per share. The company's revenue was up 20.1% compared to the same quarter last year. 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, equities analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, 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 directly owned 52,972,372 shares of the company's stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by company insiders.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FTNT shares. Scotiabank upped their target price on Fortinet from $85.00 to $110.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $100.00 target price on shares of Fortinet in a report on Thursday, May 7th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 target price on shares of Fortinet in a report on Tuesday, April 21st. Stifel Nicolaus set a $85.00 target price on Fortinet in a report on Wednesday, March 11th. Finally, TD Cowen reiterated a "buy" rating and issued a $125.00 target price (up from $100.00) on shares of Fortinet in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, Fortinet currently has an average rating of "Hold" and a consensus price target of $102.69.

About Fortinet

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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