Cumberland Partners Ltd Sells 5,500 Shares of Fortinet, Inc. $FTNT

Cumberland Partners Ltd trimmed its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,000 shares of the software maker’s stock after selling 5,500 shares during the period. Cumberland Partners Ltd’s holdings in Fortinet were worth $2,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. grew its stake in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp grew its stake in shares of Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the period. Invesco Ltd. grew its stake in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares during the period. First Trust Advisors LP grew its stake in shares of Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Fortinet by 4.7% in the 3rd quarter. Legal & General Group Plc now owns 6,115,450 shares of the software maker’s stock valued at $514,187,000 after purchasing an additional 273,428 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Arete Research set a $104.00 price objective on Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. Stephens set a $115.00 price objective on Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. DZ Bank lowered Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday. TD Cowen reiterated a “buy” rating and issued a $125.00 price objective (up from $100.00) on shares of Fortinet in a research note on Thursday, May 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $101.83.

Fortinet Stock Up 3.5%

Shares of FTNT opened at $133.93 on Friday. The company has a market capitalization of $98.12 billion, a P/E ratio of 51.71, a PEG ratio of 3.56 and a beta of 0.92. 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 one year low of $70.12 and a one year high of $134.19. The business’s 50 day simple moving average is $92.07 and its 200-day simple moving average is $84.92.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business 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. As a group, sell-side analysts predict that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. The trade was a 0.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, COO John Whittle sold 146,015 shares of the business’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 value of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 153,848 shares of company stock valued at $19,446,115 in the last three months. 17.60% of the stock is owned by corporate insiders.

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.