Fortinet, Inc. $FTNT Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Fortinet stake by 22.6% in the second quarter, selling 21,650 shares and retaining 74,138 shares worth approximately $11.8 million. Institutional investors and hedge funds collectively own 83.71% of FTNT.
• Fortinet reported stronger-than-expected quarterly results, with $0.90 in earnings per share and $2.05 billion in revenue; revenue increased 25.6% year over year. The company issued fiscal 2026 EPS guidance of $3.41–$3.47.
• Analyst sentiment remains mixed: price targets range as high as $215, but the consensus rating is “Hold” with an average target of $150.91, below the reported share price of $156.29.

TD Waterhouse Canada Inc. cut its position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 22.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,138 shares of the software maker's stock after selling 21,650 shares during the period. TD Waterhouse Canada Inc.'s holdings in Fortinet were worth $11,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FTNT. Premier Path Wealth Partners LLC increased its holdings in Fortinet by 6.1% in the second quarter. Premier Path Wealth Partners LLC now owns 4,246 shares of the software maker's stock valued at $652,000 after buying an additional 244 shares during the last quarter. NEOS Investment Management LLC lifted its holdings in Fortinet by 11.5% during the 2nd quarter. NEOS Investment Management LLC now owns 544,153 shares of the software maker's stock worth $83,593,000 after buying an additional 56,059 shares during the last quarter. Paragon Private Wealth Management LLC acquired a new position in shares of Fortinet during the 2nd quarter worth about $275,000. Nykredit A S acquired a new position in shares of Fortinet during the 2nd quarter worth about $46,622,000. Finally, B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Fortinet by 2.3% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 30,049 shares of the software maker's stock valued at $4,616,000 after acquiring an additional 673 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as a growth-at-a-reasonable-price (GARP) stock, with analysts pointing to its 2026 growth outlook, rising earnings estimates and expanding AI-security opportunity. Zacks.com featured highlights including Fortinet
• Positive Sentiment: Fortinet was also included among founder-led technology companies with long-term innovation and growth potential, reinforcing the investment case around its leadership and strategic direction. Founder-led companies redefining technology and growth
• Positive Sentiment: Multiple Zacks features identify FTNT as a GARP candidate, suggesting analysts view its earnings and revenue prospects as attractive relative to its valuation and peer group. GARP stocks investors can consider
• Positive Sentiment: Fortinet continues to benefit from broader demand for AI-driven cybersecurity. Its latest reported quarter exceeded earnings and revenue estimates, with revenue increasing 25.6% year over year, supporting the bullish outlook.
• Neutral Sentiment: ControlMonkey added backup and disaster-recovery support for Fortinet security configurations. The announcement improves recoverability for customers but appears unlikely to materially affect Fortinet’s near-term financial results. ControlMonkey extends recovery to the security stack
• Negative Sentiment: A sharp reaction to Palo Alto Networks’ results despite strong growth highlighted how demanding investor expectations have become for cybersecurity stocks. That sector-wide valuation risk may be limiting upside for Fortinet even amid favorable company-specific commentary. Cybersecurity stocks react to Palo Alto results

Fortinet Trading Down 0.0%

FTNT opened at $156.29 on Friday. The firm has a market cap of $114.67 billion, a price-to-earnings ratio of 55.03, a price-to-earnings-growth ratio of 2.96 and a beta of 1.06. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $173.89. The business's 50 day moving average is $158.88 and its two-hundred day moving average is $122.99. 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 (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company's revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company 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. On average, research analysts predict that Fortinet, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Cowen restated a "buy" rating and set a $215.00 target price (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Susquehanna increased their price target on shares of Fortinet from $115.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. The Goldman Sachs Group reissued a "buy" rating and set a $190.00 price objective on shares of Fortinet in a report on Thursday, July 30th. BMO Capital Markets boosted their price objective on shares of Fortinet from $170.00 to $185.00 and gave the stock a "market perform" rating in a research report on Thursday, July 30th. Finally, Barclays set a $190.00 target price on shares of Fortinet and gave the company an "equal weight" rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $150.91.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Also, CEO Ken Xie sold 161,482 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction 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. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is owned by corporate insiders.

Fortinet Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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