Rep. Gilbert Ray Cisneros, Jr. Buys Fortinet, Inc. (NASDAQ:FTNT) Stock

Representative Gilbert Ray Cisneros, Jr. (Democratic-California) recently bought shares of Fortinet, Inc. (NASDAQ:FTNT). In a filing disclosed on April 07th, the Representative disclosed that they had bought between $1,001 and $15,000 in Fortinet stock on March 13th. The trade occurred in the Representative’s “150 MAIN STREET TRUST > BANK OF AMERICA” account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of MACOM Technology Solutions (NASDAQ:MTSI) on 3/27/2026.
• Purchased $1,001 – $15,000 in shares of StandardAero (NYSE:SARO) on 3/27/2026.
• Purchased $1,001 – $15,000 in shares of FirstService (NASDAQ:FSV) on 3/27/2026.
• Sold $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 3/27/2026.
• Sold $1,001 – $15,000 in shares of Advanced Energy Industries (NASDAQ:AEIS) on 3/27/2026.
• Sold $1,001 – $15,000 in shares of Flex (NASDAQ:FLEX) on 3/27/2026.
• Purchased $1,001 – $15,000 in shares of LPL Financial (NASDAQ:LPLA) on 3/27/2026.
• Purchased $1,001 – $15,000 in shares of DoorDash (NASDAQ:DASH) on 3/27/2026.
• Sold $1,001 – $15,000 in shares of Viavi Solutions (NASDAQ:VIAV) on 3/27/2026.
• Purchased $15,001 – $50,000 in shares of Fabrinet (NYSE:FN) on 3/27/2026.

Fortinet Price Performance

Fortinet stock traded down $3.11 during mid-day trading on Thursday, hitting $80.40. 1,204,409 shares of the company were exchanged, compared to its average volume of 6,608,000. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $81.88 and a 200 day moving average of $81.98. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $109.33. The company has a market capitalization of $59.49 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. As a group, sell-side analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the transaction, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on FTNT. JPMorgan Chase & Co. increased their target price on Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Fortinet in a research note on Friday, March 27th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Friday, January 23rd. Scotiabank lowered Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 target price on the stock. in a research note on Monday, February 2nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Five research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.84.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Financial Consulate Inc. bought a new position in shares of Fortinet during the third quarter worth about $25,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Fortinet during the third quarter worth about $25,000. Pinnacle Holdings LLC bought a new position in shares of Fortinet during the third quarter worth about $25,000. Ameriflex Group Inc. bought a new position in shares of Fortinet during the third quarter worth about $25,000. Finally, Wexford Capital LP bought a new position in shares of Fortinet during the third quarter worth about $25,000. 83.71% of the stock is currently owned by institutional investors.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California’s 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California’s 31st Congressional District. He declared candidacy for the 2026 election.

Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor’s degree in political science from George Washington University in 1994, a master’s in business administration from Regis University in 2002, and a master’s degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

About Fortinet

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.