Tobam Has $1.38 Million Stake in Fortinet, Inc. $FTNT

Tobam cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 36.9% during the fourth quarter, Holdings Channel reports. The fund owned 17,421 shares of the software maker’s stock after selling 10,195 shares during the quarter. Tobam’s holdings in Fortinet were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Expressive Wealth LLC acquired a new stake in shares of Fortinet during the 4th quarter worth about $646,000. Trilogy Capital Inc. grew its stake in Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after buying an additional 14,076 shares during the last quarter. Leonteq Securities AG acquired a new position in Fortinet in the 4th quarter valued at about $10,422,000. Thrivent Financial for Lutherans raised its holdings in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after acquiring an additional 238,299 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in Fortinet in the 4th quarter valued at about $14,638,000. Institutional investors own 83.71% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last 90 days. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $144.73 on Friday. The company’s 50 day moving average price is $116.11 and its two-hundred day moving average price is $93.37. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07. The firm has a market cap of $106.04 billion, a PE ratio of 55.88, a PEG ratio of 3.96 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $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. Equities research analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company restated an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Bank of America increased their target price on Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Piper Sandler lifted their price target on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets upped their price objective on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus price target of $107.77.

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.