TD Asset Management Inc Sells 40,351 Shares of Fortinet, Inc. $FTNT

TD Asset Management Inc cut its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 951,517 shares of the software maker’s stock after selling 40,351 shares during the period. TD Asset Management Inc’s holdings in Fortinet were worth $75,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FTNT. Pinnacle Holdings LLC bought a new position in shares of Fortinet in the third quarter valued at $25,000. Ameriflex Group Inc. bought a new position in Fortinet during the third quarter worth $25,000. Wexford Capital LP bought a new position in Fortinet during the third quarter worth $25,000. Elyxium Wealth LLC bought a new position in Fortinet during the fourth quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new position in Fortinet during the third quarter worth $28,000. 83.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FTNT. Barclays set a $115.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Robert W. Baird set a $115.00 price objective on shares of Fortinet in a research report on Thursday, May 7th. Finally, Mizuho lifted their price objective on shares of Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, May 7th. Two 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $102.69.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Insider Transactions at Fortinet

In other news, 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 completion of the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Stock Down 3.3%

FTNT opened at $144.68 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market capitalization of $106.00 billion, a P/E ratio of 55.86, a P/E/G ratio of 4.10 and a beta of 1.11. The stock has a fifty day moving average of $103.59 and a 200-day moving average of $88.89.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.58 earnings per share. The company’s revenue 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. On average, equities analysts expect that Fortinet, Inc. will post 2.78 EPS for the current year.

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.