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

Canada Pension Plan Investment Board bought a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 1,248,237 shares of the software maker’s stock, valued at approximately $191,754,000.

A number of other institutional investors have also recently bought and sold shares of FTNT. Elevation Wealth Partners LLC raised its stake in Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after purchasing an additional 75 shares during the period. Florida Financial Advisors LLC grew its stake in shares of 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 period. Optimist Retirement Group LLC grew its stake in shares of 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 period. GW&K Investment Management LLC increased its holdings in shares of Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after buying an additional 123 shares during the last quarter. Finally, Delta Investment Management LLC raised its position in shares of Fortinet by 2.4% in the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after buying an additional 125 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Up 2.5%

NASDAQ:FTNT opened at $157.54 on Thursday. Fortinet, Inc. has a one year low of $73.55 and a one year high of $172.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market capitalization of $115.59 billion, a price-to-earnings ratio of 55.47, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. The stock has a 50-day simple moving average of $156.69 and a 200 day simple moving average of $119.45.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts predict that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank Of Canada set a $185.00 price target on shares of Fortinet and gave the company a “sector perform” rating in a report on Thursday, July 30th. Bank of America reiterated a “buy” rating on shares of Fortinet in a research note on Monday, July 27th. HC Wainwright reissued a “buy” rating on shares of Fortinet in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Finally, Barclays set a $190.00 target price on shares of Fortinet and gave the company an “equal weight” rating in a report on Thursday, July 30th. Two investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $150.91.

Insider Transactions at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was 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 valued at $50,731,178 over the last three months. 17.60% of the stock is currently owned by company insiders.

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.