CIBC Bancorp USA Inc. Invests $9.91 Million in Fortinet, Inc. $FTNT

CIBC Bancorp USA Inc. purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 117,889 shares of the software maker’s stock, valued at approximately $9,912,000.

Several other institutional investors have also added to or reduced their stakes in FTNT. LSV Asset Management bought a new position in shares of Fortinet during the 2nd quarter valued at approximately $25,000. Pinnacle Holdings LLC bought a new stake in Fortinet in the third quarter worth $25,000. Financial Consulate Inc. bought a new stake in Fortinet in the third quarter worth $25,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Fortinet during the third quarter valued at $25,000. Finally, Ameriflex Group Inc. bought a new position in Fortinet during the third quarter valued at $25,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FTNT. Rosenblatt Securities lifted their price objective on shares of Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Friday, February 6th. Finally, Truist Financial set a $88.00 price objective on Fortinet in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.62.

Insider Activity

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

Fortinet Stock Down 2.1%

Fortinet stock opened at $81.40 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The stock has a market capitalization of $60.23 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. The business has a 50 day simple moving average of $81.10 and a 200-day simple moving average of $81.82. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $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. On average, analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

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.