CIBC Asset Management Inc Purchases 65,980 Shares of Fortinet, Inc. $FTNT

Posted by Geri Gentry on Jun 5th, 2026

CIBC Asset Management Inc increased its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 29.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 289,140 shares of the software maker’s stock after purchasing an additional 65,980 shares during the period. CIBC Asset Management Inc’s holdings in Fortinet were worth $22,961,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. grew its position in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after acquiring an additional 2,894,355 shares during the period. State Street Corp raised its holdings in shares of Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the period. Norges Bank bought a new stake in shares of Fortinet in the 4th quarter valued at about $1,152,917,000. Bank of New York Mellon Corp lifted its stake in Fortinet by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after purchasing an additional 893,190 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Insiders Place Their Bets

In related news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FTNT. Sanford C. Bernstein reissued a “market perform” rating and set a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th. DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Tuesday, May 19th. TD Cowen reiterated a “buy” rating and set a $125.00 target price (up from $100.00) on shares of Fortinet in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 target price on shares of Fortinet in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $102.69.

View Our Latest Stock Analysis on Fortinet

Fortinet Trading Up 2.2%

Shares of FTNT stock opened at $149.67 on Friday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07. The company has a market capitalization of $109.66 billion, a PE ratio of 57.79, a price-to-earnings-growth ratio of 4.01 and a beta of 1.11. The firm has a 50 day moving average price of $102.28 and a two-hundred day moving average price of $88.50. 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 – Get Free Report) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior 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. As a group, analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current year.

About Fortinet

(Free Report)

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.