OMERS ADMINISTRATION Corp Raises Stake in Fortinet, Inc. $FTNT

OMERS ADMINISTRATION Corp boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 24.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,747 shares of the software maker’s stock after purchasing an additional 6,615 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Fortinet were worth $2,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FTNT. Florida Financial Advisors LLC boosted its holdings in Fortinet by 3.0% in the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after purchasing an additional 109 shares during the period. Optimist Retirement Group LLC raised its position in shares of Fortinet by 2.5% in the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after buying an additional 122 shares in the last quarter. PDS Planning Inc raised its position in shares of Fortinet by 3.1% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after buying an additional 123 shares in the last quarter. GW&K Investment Management LLC grew its position in Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after buying an additional 123 shares in the last quarter. Finally, Delta Investment Management LLC raised its holdings in shares of Fortinet by 2.4% in the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Trading Down 1.6%

Shares of FTNT stock opened at $149.98 on Wednesday. The business has a 50-day moving average of $148.98 and a 200 day moving average of $107.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The stock has a market capitalization of $109.88 billion, a PE ratio of 57.91, a P/E/G ratio of 4.14 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS 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 business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned $0.58 EPS. The business’s quarterly 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. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet announced the FortiGate 1200G firewall and FortiSASE Outpost, combining ASIC-powered threat protection with cloud-delivered SASE in customer-controlled environments. The launch supports Fortinet’s strategy of converging networking and security and could strengthen its position in enterprise cybersecurity. Fortinet Expands FortiGate G Series
• Positive Sentiment: Several previews highlighted Fortinet’s strong earnings track record, including 24 consecutive quarters without an earnings miss. Analysts are watching demand for AI security, Secure Networking, and SASE, while recent results showed 20.1% year-over-year revenue growth and an earnings beat. Fortinet Before Q2 Earnings
• Positive Sentiment: Bank of America Securities maintained its Buy rating, and broader cybersecurity coverage points to accelerating AI-driven threats and increased spending on platform vendors such as Fortinet. Bank of America Maintains Buy Rating
• Positive Sentiment: Fortinet was reportedly selected as a customer of Intel’s foundry business, potentially supporting supply-chain capacity and strengthening its relationship with a major semiconductor manufacturer. Intel Foundry Customer
• Neutral Sentiment: Consensus-focused reports expect another earnings beat, but the outcome depends on whether recurring revenue, billings, margins, and forward guidance validate Fortinet’s growth outlook. Fortinet Earnings Estimate Preview
• Negative Sentiment: Seeking Alpha argued that Fortinet’s security platform is strong but that recurring-growth metrics still need to accelerate. With the stock trading at a high earnings multiple, investors may demand clear evidence of sustained subscription and service growth. Fortinet Recurring Growth Analysis
• Negative Sentiment: Wells Fargo reaffirmed its Sell rating, underscoring valuation concerns and the possibility that elevated expectations leave limited room for disappointment in the earnings report. Wells Fargo Reaffirms Sell Rating

Wall Street Analyst Weigh In

FTNT has been the subject of a number of research reports. TD Cowen reissued a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. HSBC cut shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective on the stock. in a research report on Monday, June 29th. BMO Capital Markets lifted their price objective on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Piper Sandler upped their target price on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Barclays increased their target price on Fortinet from $155.00 to $170.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $123.61.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last three months. 17.60% of the stock is owned by company 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.