Rep. Gilbert Ray Cisneros, Jr. Sells Off Shares of Fortinet, Inc. (NASDAQ:FTNT)

Representative Gilbert Ray Cisneros, Jr. (Democratic-California) recently sold shares of Fortinet, Inc. (NASDAQ:FTNT). In a filing disclosed on May 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Fortinet stock on April 14th. The trade occurred in the Representative’s “150 MAIN STREET TRUST > BANK OF AMERICA” account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Revvity (NYSE:RVTY) on 5/1/2026.
• Sold $1,001 – $15,000 in shares of Flex (NASDAQ:FLEX) on 5/1/2026.
• Purchased $1,001 – $15,000 in shares of LPL Financial (NASDAQ:LPLA) on 5/1/2026.
• Purchased $1,001 – $15,000 in shares of FirstService (NASDAQ:FSV) on 5/1/2026.
• Sold $1,001 – $15,000 in shares of SS&C Technologies (NASDAQ:SSNC) on 5/1/2026.
• Purchased $1,001 – $15,000 in shares of Wayfair (NYSE:W) on 5/1/2026.
• Purchased $1,001 – $15,000 in shares of STERIS (NYSE:STE) on 5/1/2026.
• Purchased $1,001 – $15,000 in shares of DoorDash (NASDAQ:DASH) on 5/1/2026.
• Purchased $1,001 – $15,000 in shares of Sensata Technologies (NYSE:ST) on 5/1/2026.
• Purchased $1,001 – $15,000 in shares of Veralto (NYSE:VLTO) on 5/1/2026.

Fortinet Stock Performance

FTNT traded up $0.92 during trading on Friday, reaching $122.78. The company’s stock had a trading volume of 5,529,897 shares, compared to its average volume of 6,021,515. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $123.33. The company’s fifty day moving average price is $87.51 and its 200-day moving average price is $83.37. The company has a market capitalization of $89.95 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 3.35 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $0.58 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. 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 analysts forecast that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Zacks highlighted Fortinet as one of several security stocks benefiting from surging demand for cybersecurity solutions as companies accelerate digital transformation and cloud migration. 4 Security Stocks to Focus on From a Flourishing Industry
• Positive Sentiment: Scotiabank raised its FY2026 EPS estimate for Fortinet to $2.76 from $2.62, which can support investor confidence in earnings power even though the firm kept a Sector Perform rating and a $110 target.
• Positive Sentiment: Multiple market write-ups pointed to Fortinet’s strong Q1 beat, AI-driven demand, and institutional buying as reasons the stock has maintained strong momentum after earnings. Fortinet Stock’s Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
• Neutral Sentiment: Scotiabank also trimmed its FY2027 EPS estimate to $2.95 from $3.02, which is a mild headwind but not enough to offset the more upbeat near-term outlook.
• Neutral Sentiment: Fortinet was mentioned in broader cybersecurity and market commentary alongside peers such as CrowdStrike and Okta, reinforcing sector strength rather than providing company-specific news.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 2,478 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the transaction, the vice president directly owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 5,355 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the transaction, the chief executive officer owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This trade represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $107.00 price target (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. Rosenblatt Securities lifted their price target on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. TD Cowen reiterated a “buy” rating and set a $125.00 price target (up from $100.00) on shares of Fortinet in a research report on Thursday, May 7th. BMO Capital Markets lifted their price target on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Finally, UBS Group lifted their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.45.

Institutional Investors Weigh In On Fortinet

A number of large investors have recently bought and sold shares of the stock. Florida Financial Advisors LLC grew its holdings in Fortinet by 3.0% during the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after buying an additional 109 shares during the last quarter. Optimist Retirement Group LLC grew its holdings in Fortinet by 2.5% during 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 during the last quarter. PDS Planning Inc grew its holdings in Fortinet by 3.1% during 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 during the last quarter. GW&K Investment Management LLC grew its holdings in Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after buying an additional 123 shares during the last quarter. Finally, 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. Institutional investors and hedge funds own 83.71% of the company’s stock.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California’s 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California’s 31st Congressional District. He declared candidacy for the 2026 election.

Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor’s degree in political science from George Washington University in 1994, a master’s in business administration from Regis University in 2002, and a master’s degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

About Fortinet

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.