Healthcare of Ontario Pension Plan Trust Fund Acquires 95,034 Shares of Fortinet, Inc. $FTNT

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 16.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,557 shares of the software maker’s stock after buying an additional 95,034 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Fortinet were worth $54,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC bought a new stake in Fortinet during the 4th quarter valued at about $585,000. HUB Investment Partners LLC boosted its position in Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after buying an additional 1,193 shares during the period. Diversify Advisory Services LLC bought a new position in Fortinet in the 2nd quarter worth about $1,136,000. Finally, Quantinno Capital Management LP grew its stake in Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after acquiring an additional 31,202 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FTNT. JPMorgan Chase & Co. raised their target price on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Citigroup reiterated a “neutral” rating and issued a $165.00 price target (up from $115.00) on shares of Fortinet in a report on Wednesday. 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. Compass Point set a $100.00 price objective on Fortinet in a report on Monday, May 4th. Finally, BMO Capital Markets lifted their target price on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and an average target price of $123.61.

Fortinet Trading Up 0.5%

NASDAQ:FTNT opened at $152.37 on Friday. The stock has a market capitalization of $111.63 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 4.14 and a beta of 1.09. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $148.02 and a 200 day moving average of $106.45.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company earned $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, sell-side analysts anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on 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 directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% 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. Insiders sold 318,387 shares of company stock valued at $43,403,063 in the last quarter. 17.60% of the stock is currently owned by corporate 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.