OP Asset Management Ltd Purchases New Shares in Fortinet, Inc. $FTNT

OP Asset Management Ltd purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 65,044 shares of the software maker’s stock, valued at approximately $5,315,000.

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

Insider Activity

In other news, 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 transaction of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last ninety days. 17.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Mizuho increased their target price on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, May 7th. Barclays set a $155.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. increased their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. DZ Bank lowered shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Tuesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of Fortinet in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.77.

Fortinet Stock Up 0.9%

FTNT opened at $151.35 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $123.02 and a 200-day moving average price of $95.61. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $152.77. The stock has a market capitalization of $110.89 billion, a price-to-earnings ratio of 58.44, a PEG ratio of 4.10 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data 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. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. 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 forecast that Fortinet, Inc. will post 2.78 earnings per share for the current year.

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.