Dixon Mitchell Investment Counsel Inc. Raises Stock Holdings in Fortinet, Inc. $FTNT

Dixon Mitchell Investment Counsel Inc. increased its position in Fortinet, Inc. (NASDAQ:FTNT) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,939 shares of the software maker’s stock after purchasing an additional 7,385 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in Fortinet were worth $27,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTNT. Pinnacle Holdings LLC purchased a new stake in Fortinet in the third quarter worth $25,000. Ameriflex Group Inc. purchased a new stake in Fortinet in the third quarter worth $25,000. Wexford Capital LP purchased a new stake in Fortinet in the third quarter worth $25,000. Elyxium Wealth LLC purchased a new stake in Fortinet in the fourth quarter worth $27,000. Finally, Palisade Asset Management LLC purchased a new stake in Fortinet in the third quarter worth $28,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. 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. Insiders have sold 318,387 shares of company stock valued at $43,403,063 over the last ninety days. Insiders own 17.60% of the company’s stock.

Fortinet Trading Up 0.9%

Fortinet stock opened at $146.30 on Friday. 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 one year low of $70.12 and a one year high of $150.07. The stock has a market capitalization of $107.19 billion, a PE ratio of 56.49, a price-to-earnings-growth ratio of 4.01 and a beta of 1.11. The business’s fifty day moving average is $109.80 and its 200 day moving average is $91.08.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 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 company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm posted $0.58 earnings per share. Fortinet’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, sell-side analysts predict that Fortinet, Inc. will post 2.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Robert W. Baird set a $115.00 target price on Fortinet in a research note on Thursday, May 7th. Barclays set a $155.00 target price on Fortinet and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $107.00 target price (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. Mizuho increased their target price on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.77.

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.