Healthcare of Ontario Pension Plan Trust Fund Raises Position in Fortinet, Inc. $FTNT

Healthcare of Ontario Pension Plan Trust Fund lifted its position in Fortinet, Inc. (NASDAQ:FTNT) by 16.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 667,557 shares of the software maker’s stock after buying an additional 95,034 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of Fortinet worth $54,553,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FTNT. Norges Bank bought a new position in Fortinet in the 4th quarter valued at approximately $1,152,917,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after buying an additional 2,166,396 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after buying an additional 1,777,115 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of Fortinet stock opened at $152.37 on Friday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $170.35. The stock’s fifty day moving average is $148.02 and its 200 day moving average is $106.45. The stock has a market cap of $111.63 billion, a P/E ratio of 58.83, a P/E/G ratio of 4.14 and a beta of 1.09. 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 released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. Fortinet’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. Sell-side analysts anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

FTNT has been the topic of several research analyst reports. UBS Group upped their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Barclays boosted their price objective on shares of Fortinet from $155.00 to $170.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. Arete Research set a $104.00 price objective on shares of Fortinet and gave the company a “buy” rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Finally, BMO Capital Markets lifted their target price on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.61.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following 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 ownership of the stock. The sale was disclosed in a document filed 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. Also, COO John Whittle sold 146,015 shares of the company’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 transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company’s stock.

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.