Canada Pension Plan Investment Board Takes $191.75 Million Position in Fortinet, Inc. $FTNT

Canada Pension Plan Investment Board bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,248,237 shares of the software maker’s stock, valued at approximately $191,754,000. Canada Pension Plan Investment Board owned 0.17% of Fortinet as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FTNT. BlackRock Inc. acquired a new stake in shares of Fortinet in the second quarter valued at approximately $9,561,650,000. State Street Corp increased its holdings in shares of Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after acquiring an additional 477,397 shares during the period. Norges Bank purchased a new stake in Fortinet in the 4th quarter valued at $1,152,917,000. Bank of New York Mellon Corp boosted its stake in Fortinet by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after purchasing an additional 893,190 shares during the period. Finally, First Trust Advisors LP boosted its stake in Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after purchasing an additional 3,598,487 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on FTNT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Robert W. Baird set a $165.00 price target on Fortinet in a research report on Thursday, July 30th. Wells Fargo & Company set a $135.00 price objective on Fortinet and gave the company an “underweight” rating in a research note on Thursday, July 30th. Finally, Stephens set a $115.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $150.91.

Fortinet Trading Up 2.5%

Shares of FTNT stock opened at $157.54 on Thursday. The business’s fifty day moving average price is $156.69 and its 200 day moving average price is $119.45. The firm has a market capitalization of $115.59 billion, a PE ratio of 55.47, a P/E/G ratio of 2.91 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $172.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the business 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. As a group, sell-side analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insider Activity

In related news, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. 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. 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 firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 329,142 shares of company stock worth $50,731,178 over the last ninety days. 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.