Fortinet (NASDAQ:FTNT) Stock Unloaded Rep. Gilbert Ray Cisneros, Jr.

Key Points

• Rep. Gilbert Ray Cisneros, Jr. disclosed selling Fortinet shares worth between $1,001 and $15,000 on April 14, according to a filing released May 8.
• Fortinet reported better-than-expected quarterly results, with EPS of $0.82 versus $0.62 expected and revenue of $1.85 billion versus $1.73 billion expected. Revenue rose 20.1% year over year, and the company raised its full-year guidance.
• Shares of Fortinet were trading near their 52-week high at $115.44, while analysts currently rate the stock a consensus "Hold" with an average target price of $100.45.

Representative Gilbert Ray Cisneros, Jr. (Democratic-California) recently sold shares of Fortinet, Inc. (NASDAQ:FTNT). In a filing disclosed on May 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Fortinet stock on April 14th. The trade occurred in the Representative's "150 MAIN STREET TRUST > BANK OF AMERICA" account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Revvity NYSE: RVTY on 5/1/2026.
• Sold $1,001 - $15,000 in shares of Flex NASDAQ: FLEX on 5/1/2026.
• Purchased $1,001 - $15,000 in shares of LPL Financial NASDAQ: LPLA on 5/1/2026.
• Purchased $1,001 - $15,000 in shares of FirstService NASDAQ: FSV on 5/1/2026.
• Sold $1,001 - $15,000 in shares of SS&C Technologies NASDAQ: SSNC on 5/1/2026.
• Purchased $1,001 - $15,000 in shares of Wayfair NYSE: W on 5/1/2026.
• Purchased $1,001 - $15,000 in shares of STERIS NYSE: STE on 5/1/2026.
• Purchased $1,001 - $15,000 in shares of DoorDash NASDAQ: DASH on 5/1/2026.
• Purchased $1,001 - $15,000 in shares of Sensata Technologies NYSE: ST on 5/1/2026.
• Purchased $1,001 - $15,000 in shares of Veralto NYSE: VLTO on 5/1/2026.

Fortinet Stock Up 1.2%

Shares of NASDAQ:FTNT opened at $115.44 on Tuesday. The company has a market cap of $84.51 billion, a price-to-earnings ratio of 44.57, a PEG ratio of 3.29 and a beta of 0.92. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $115.49. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $84.43 and a 200 day moving average price of $82.40.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, equities research analysts predict that Fortinet, Inc. will post 2.64 earnings per share for the current year.

Hedge Funds Weigh In On Fortinet

Several hedge funds have recently bought and sold shares of FTNT. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Fortinet during the third quarter valued at $25,000. Pinnacle Holdings LLC purchased a new stake in Fortinet in the 3rd quarter valued at about $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet during the third quarter worth approximately $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock valued at $25,000 after acquiring an additional 245 shares in the last quarter. Finally, Wexford Capital LP bought a new position in Fortinet in the third quarter worth approximately $25,000. Institutional investors own 83.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FTNT shares. Evercore set a $80.00 target price on Fortinet in a research report on Friday, February 6th. Barclays set a $115.00 price objective on shares of Fortinet and gave the stock an "equal weight" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $100.00 price objective on shares of Fortinet in a research report on Thursday. Scotiabank raised their target price on shares of Fortinet from $85.00 to $110.00 and gave the stock a "sector perform" rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $100.45.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 5,355 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares of the company's stock, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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, VP Michael Xie sold 2,478 shares of the firm's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the transaction, the vice president owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This represents a 0.02% decrease in their position. 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. 17.60% of the stock is currently owned by corporate insiders.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California's 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California's 31st Congressional District. He declared candidacy for the 2026 election. Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor's degree in political science from George Washington University in 1994, a master's in business administration from Regis University in 2002, and a master's degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

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.

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