Fortinet, Inc. $FTNT Stock Position Decreased by Cibc World Market Inc.

Cibc World Market Inc. decreased its position in Fortinet, Inc. (NASDAQ:FTNT) by 73.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,431 shares of the software maker’s stock after selling 191,056 shares during the quarter. Cibc World Market Inc.’s holdings in Fortinet were worth $5,670,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTNT. Brighton Jones LLC increased its stake in shares of Fortinet by 2.2% during the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares during the last quarter. Bison Wealth LLC acquired a new position in Fortinet during the fourth quarter worth $585,000. Ritholtz Wealth Management raised its holdings in Fortinet by 9.2% during the second quarter. Ritholtz Wealth Management now owns 7,417 shares of the software maker’s stock valued at $784,000 after buying an additional 623 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of Fortinet by 1.5% in the second quarter. Stratos Wealth Advisors LLC now owns 19,886 shares of the software maker’s stock worth $2,102,000 after buying an additional 290 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Fortinet by 4.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 65,119 shares of the software maker’s stock worth $6,884,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FTNT shares. Piper Sandler reissued a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. Mizuho lifted their price target on shares of Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, February 6th. Oppenheimer reiterated a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Finally, Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Fortinet in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus target price of $89.07.

Insider Activity

In related news, CEO Ken Xie sold 175,737 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the transaction, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by insiders.

Fortinet Trading Up 1.5%

Shares of FTNT stock opened at $85.56 on Friday. The firm has a market capitalization of $63.63 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.95 and a beta of 1.06. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.82. The firm’s fifty day simple moving average is $80.56 and its 200 day simple moving average is $82.06. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. As a group, sell-side analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

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.