151,038 Shares in Fortinet, Inc. $FTNT Acquired by OFI Invest Asset Management
by Doug Wharley · The Cerbat GemOFI Invest Asset Management bought a new position in Fortinet, Inc. (NASDAQ:FTNT – Free Report) in the fourth quarter, Holdings Channel reports. The firm bought 151,038 shares of the software maker’s stock, valued at approximately $11,994,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Holdings LLC acquired a new stake in Fortinet during the 3rd quarter valued at approximately $25,000. Financial Consulate Inc. acquired a new stake in Fortinet during the 3rd quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet during the 3rd quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in Fortinet during the 3rd quarter valued at approximately $25,000. Finally, Wexford Capital LP acquired a new stake in Fortinet during the 3rd quarter valued at approximately $25,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
FTNT has been the subject of several research reports. Morgan Stanley restated an “underweight” rating and set a $70.00 price objective (up from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. UBS Group restated a “neutral” rating and set a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Piper Sandler restated a “neutral” rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. Mizuho lifted their price objective on shares of Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $87.84.
Check Out Our Latest Analysis on FTNT
Fortinet Stock Performance
FTNT opened at $80.66 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The firm has a fifty day moving average price of $81.86 and a 200 day moving average price of $81.97. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $109.33. The stock has a market cap of $59.68 billion, a P/E ratio of 33.19, a P/E/G ratio of 2.87 and a beta of 1.00.
Fortinet (NASDAQ:FTNT – Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Equities research analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current year.
Insider Buying and Selling at Fortinet
In related news, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by insiders.
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.
Further Reading
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