OMERS ADMINISTRATION Corp Acquires 6,615 Shares of Fortinet, Inc. $FTNT

OMERS ADMINISTRATION Corp grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 24.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,747 shares of the software maker’s stock after buying an additional 6,615 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Fortinet were worth $2,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares in the last quarter. Bison Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter valued at about $585,000. HUB Investment Partners LLC boosted its stake in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Fortinet during the 2nd quarter valued at about $1,136,000. Finally, Quantinno Capital Management LP increased its position in shares of Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after buying an additional 31,202 shares during the period. Institutional investors own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group increased their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Arete Research set a $104.00 target price on Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. Susquehanna upped their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Citigroup reissued a “neutral” rating and issued a $165.00 target price (up from $115.00) on shares of Fortinet in a research report on Wednesday, July 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $165.00 target price (up from $110.00) on shares of Fortinet in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.61.

Fortinet Stock Down 1.6%

Shares of Fortinet stock opened at $149.98 on Wednesday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The firm has a market cap of $109.88 billion, a price-to-earnings ratio of 57.91, a PEG ratio of 4.14 and a beta of 1.09. The company has a 50-day moving average of $148.98 and a 200 day moving average of $107.66. 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 (NASDAQ:FTNT) last posted its quarterly earnings data 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 analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. 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 anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the firm’s 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 completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. 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. Also, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction dated 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 owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company’s stock.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet announced the FortiGate 1200G firewall and FortiSASE Outpost, combining ASIC-powered threat protection with cloud-delivered SASE in customer-controlled environments. The launch supports Fortinet’s strategy of converging networking and security and could strengthen its position in enterprise cybersecurity. Fortinet Expands FortiGate G Series
• Positive Sentiment: Several previews highlighted Fortinet’s strong earnings track record, including 24 consecutive quarters without an earnings miss. Analysts are watching demand for AI security, Secure Networking, and SASE, while recent results showed 20.1% year-over-year revenue growth and an earnings beat. Fortinet Before Q2 Earnings
• Positive Sentiment: Bank of America Securities maintained its Buy rating, and broader cybersecurity coverage points to accelerating AI-driven threats and increased spending on platform vendors such as Fortinet. Bank of America Maintains Buy Rating
• Positive Sentiment: Fortinet was reportedly selected as a customer of Intel’s foundry business, potentially supporting supply-chain capacity and strengthening its relationship with a major semiconductor manufacturer. Intel Foundry Customer
• Neutral Sentiment: Consensus-focused reports expect another earnings beat, but the outcome depends on whether recurring revenue, billings, margins, and forward guidance validate Fortinet’s growth outlook. Fortinet Earnings Estimate Preview
• Negative Sentiment: Seeking Alpha argued that Fortinet’s security platform is strong but that recurring-growth metrics still need to accelerate. With the stock trading at a high earnings multiple, investors may demand clear evidence of sustained subscription and service growth. Fortinet Recurring Growth Analysis
• Negative Sentiment: Wells Fargo reaffirmed its Sell rating, underscoring valuation concerns and the possibility that elevated expectations leave limited room for disappointment in the earnings report. Wells Fargo Reaffirms Sell Rating

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.