Fortinet, Inc. $FTNT Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Fortinet, Inc. (NASDAQ:FTNT) by 48.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 572,523 shares of the software maker’s stock after selling 540,617 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Fortinet were worth $45,464,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC acquired a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. Wexford Capital LP acquired a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in Fortinet in the 3rd quarter valued at approximately $28,000. Finally, Elyxium Wealth LLC acquired a new stake in Fortinet in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. 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. Insiders have sold 318,387 shares of company stock worth $43,403,063 in the last ninety days. 17.60% of the stock is owned by corporate insiders.

Fortinet Price Performance

Fortinet stock opened at $146.30 on Monday. The stock has a market cap of $107.19 billion, a P/E ratio of 56.49, a price-to-earnings-growth ratio of 4.01 and a beta of 1.11. The company has a fifty day simple moving average of $109.80 and a 200-day simple moving average of $91.16. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company 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. Equities analysts expect that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on FTNT. Piper Sandler lifted their target price on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. UBS Group lifted their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. BTIG Research raised their price target on shares of Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Robert W. Baird set a $115.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.77.

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.