Healthcare of Ontario Pension Plan Trust Fund Decreases Position in Fortinet, Inc. $FTNT

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Fortinet, Inc. (NASDAQ:FTNT) by 48.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 572,523 shares of the software maker’s stock after selling 540,617 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of Fortinet worth $45,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Optimist Retirement Group LLC lifted its stake in Fortinet by 2.5% in the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after buying an additional 122 shares in the last quarter. PDS Planning Inc lifted its stake in Fortinet by 3.1% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after buying an additional 123 shares in the last quarter. GW&K Investment Management LLC raised its holdings in Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after acquiring an additional 123 shares during the last quarter. Delta Investment Management LLC raised its holdings in 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 during the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in Fortinet by 2.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock valued at $513,000 after acquiring an additional 128 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on FTNT shares. Mizuho increased their price objective on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. BTIG Research increased their price objective on shares of Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Stephens set a $115.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. Finally, BMO Capital Markets increased their price objective on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $107.77.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $146.30 on Monday. The company has a 50 day simple moving average of $109.80 and a 200-day simple moving average of $91.16. The company has a market capitalization of $107.19 billion, a P/E ratio of 56.49, a P/E/G ratio of 4.01 and a beta of 1.11. 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 $150.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. 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, equities research analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 that occurred 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 sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last 90 days. Insiders own 17.60% of the company’s stock.

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.