528,693 Shares in Fortinet, Inc. $FTNT Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, HoldingsChannel reports. The institutional investor purchased 528,693 shares of the software maker’s stock, valued at approximately $81,218,000.

A number of other institutional investors also recently added to or reduced their stakes in FTNT. Expressive Wealth LLC acquired a new stake in Fortinet during the 4th quarter valued at $646,000. Leonteq Securities AG acquired a new position in Fortinet in the fourth quarter worth $10,422,000. Eurizon Capital SGR S.p.A. acquired a new position in Fortinet in the fourth quarter worth $14,638,000. Thrivent Financial for Lutherans grew its holdings in shares of Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares during the last quarter. Finally, Westerkirk Capital Inc. grew its holdings in shares of Fortinet by 41.9% during the fourth quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after purchasing an additional 15,500 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, VP Michael Xie sold 3,907 shares of the firm’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 of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 329,142 shares of company stock valued at $50,731,178 over the last ninety days. 17.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus set a $175.00 price target on Fortinet and gave the company a “hold” rating in a report on Thursday, July 30th. Rosenblatt Securities increased their price objective on shares of Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company set a $135.00 price objective on shares of Fortinet and gave the company an “underweight” rating in a research report on Thursday, July 30th. Bank of America reiterated a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $160.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average price target of $150.91.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Cybersecurity-sector rally lifted sentiment. Fortinet appears to be benefiting from strong quarterly results and upbeat outlooks from major cybersecurity peers, creating a positive read-through for comparable companies. The company’s own recent results showed 25.6% year-over-year revenue growth to $2.05 billion and earnings above analyst expectations. Why Fortinet Stock Is Up Today
• Positive Sentiment: CMMC Level 2 certification strengthens Fortinet’s federal positioning. Fortinet Federal, a wholly owned subsidiary, received certification after an independent assessment validated 110 NIST SP 800-171 security requirements for protecting Controlled Unclassified Information. The milestone may improve Fortinet’s ability to compete for U.S. government and defense-related contracts. Fortinet Federal Achieves CMMC Level 2 Certification
• Positive Sentiment: Operational momentum remains strong. Fortinet reported better-than-expected quarterly earnings and revenue, with product revenue growth and higher full-year guidance reinforcing the company’s growth narrative. This provides a fundamental backdrop for the recent share-price strength.
• Neutral Sentiment: Valuation is becoming a concern. An investment analysis highlighted Fortinet’s strong platform and cash generation but argued that the elevated valuation leaves limited margin of safety. With the shares near their 52-week high, additional gains may require continued execution and upward revisions to expectations. Fortinet Strong Platform and Cash Generation, but Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider selling and mixed analyst views could limit upside. Reported insider activity showed executives selling shares without recorded open-market purchases during the past six months. Several analysts also maintain cautious ratings, and the reported median price target is below the current trading range, signaling potential valuation pressure.

Fortinet Price Performance

Fortinet stock opened at $172.78 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $126.77 billion, a P/E ratio of 60.84, a PEG ratio of 2.99 and a beta of 1.07. The business has a 50-day moving average of $157.25 and a 200-day moving average of $120.08. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $173.89.

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

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.