Fortinet Stock Has Fallen 18.7% since May 2019

Fortinet stock returns

Fortinet (FTNT) stock has fallen 18.7% since the start of May 2019. Fortinet stock is currently trading at $75.98, which is 24.4% above its 52-week low of $61.08 and 21.6% below its 52-week high of $96.96. Fortinet stock had a stellar run in the first three and a half months of 2019. The stock rose 35.0% from $70.43 on December 31, 2018, to $95.22 on April 15, 2019.

Fortinet Stock Has Fallen 18.7% since May 2019

The recent pullback has meant that Fortinet stock is now up 7.9% year-to-date. Fortinet stock has underperformed the broader market this year. The cybersecurity ETF (HACK) is up 15.7% since the start of 2019, while peers Palo Alto Networks (PANW) and Check Point (CHKP) have generated returns of 6.6% and 10.4% year-to-date.

Fortinet stock has generated significant investor wealth over the years

Though Fortinet has underperformed markets this year, the stock has created significant wealth for investors. Fortinet stock is up 125.5% in the last three years, 211.0% in the last five years, and 797.0% since its IPO in 2009.

In comparison, the HACK ETF has gained 53.7% in just under five years. Palo Alto Networks and Check Point have generated returns of 150.0% and 68.4%, respectively, in the last five years.

Fortinet and Check Point each account for 3.3% of the HACK ETF. The top holdings in HACK are Cisco (CSCO) at 4.7%, followed by CyberArk at 4.2%, and Sophos Group at 4.2%.