Bank OZK Sells 3,596 Shares of Fortinet, Inc. $FTNT

Bank OZK decreased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,842 shares of the software maker’s stock after selling 3,596 shares during the quarter. Fortinet accounts for approximately 1.8% of Bank OZK’s holdings, making the stock its 11th biggest holding. Bank OZK’s holdings in Fortinet were worth $5,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC increased its stake in Fortinet by 53.6% in the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Sigma Planning Corp lifted its stake in Fortinet by 1.0% during the second quarter. Sigma Planning Corp now owns 7,927 shares of the software maker’s stock worth $1,218,000 after purchasing an additional 80 shares during the period. Cornerstone Financial Management LLC lifted its stake in Fortinet by 102.5% during the second quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares during the period. Florida Financial Advisors LLC boosted its holdings in Fortinet by 3.0% during the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after purchasing an additional 109 shares in the last quarter. Finally, Optimist Retirement Group LLC boosted its holdings in Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after purchasing an additional 122 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FTNT shares. Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Barclays set a $190.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. Finally, Royal Bank Of Canada set a $185.00 target price on shares of Fortinet and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $150.91.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a legal 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. The trade was a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Price Performance

Shares of FTNT traded up $1.18 on Tuesday, hitting $157.47. The company’s stock had a trading volume of 3,575,179 shares, compared to its average volume of 6,152,005. The company has a market capitalization of $115.54 billion, a PE ratio of 55.45, a PEG ratio of 2.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $173.89. The company has a 50 day moving average price of $158.90 and a 200 day moving average price of $123.78.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm posted $0.64 EPS. The business’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, research analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Fortinet 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.