37,842 Shares in Fortinet, Inc. $FTNT Purchased by Bank OZK

Bank OZK bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 37,842 shares of the software maker's stock, valued at approximately $5,813,000. Fortinet accounts for approximately 1.7% of Bank OZK's investment portfolio, making the stock its 14th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Fortinet during the second quarter valued at approximately $9,561,650,000. Norges Bank purchased a new position in shares of Fortinet during the fourth quarter valued at about $1,152,917,000. Bank of New York Mellon Corp purchased a new position in shares of Fortinet during the second quarter valued at about $1,432,842,000. Legal & General Group Plc purchased a new stake in shares of Fortinet in the second quarter worth about $979,062,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker's stock worth $788,682,000 after acquiring an additional 4,500,194 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Cybersecurity-sector rally lifted sentiment. Fortinet appears to be benefiting from strong quarterly results and upbeat outlooks from major cybersecurity peers, creating a positive read-through for comparable companies. The company’s own recent results showed 25.6% year-over-year revenue growth to $2.05 billion and earnings above analyst expectations. Why Fortinet Stock Is Up Today
• Positive Sentiment: CMMC Level 2 certification strengthens Fortinet’s federal positioning. Fortinet Federal, a wholly owned subsidiary, received certification after an independent assessment validated 110 NIST SP 800-171 security requirements for protecting Controlled Unclassified Information. The milestone may improve Fortinet’s ability to compete for U.S. government and defense-related contracts. Fortinet Federal Achieves CMMC Level 2 Certification
• Positive Sentiment: Operational momentum remains strong. Fortinet reported better-than-expected quarterly earnings and revenue, with product revenue growth and higher full-year guidance reinforcing the company’s growth narrative. This provides a fundamental backdrop for the recent share-price strength.
• Neutral Sentiment: Valuation is becoming a concern. An investment analysis highlighted Fortinet’s strong platform and cash generation but argued that the elevated valuation leaves limited margin of safety. With the shares near their 52-week high, additional gains may require continued execution and upward revisions to expectations. Fortinet Strong Platform and Cash Generation, but Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider selling and mixed analyst views could limit upside. Reported insider activity showed executives selling shares without recorded open-market purchases during the past six months. Several analysts also maintain cautious ratings, and the reported median price target is below the current trading range, signaling potential valuation pressure.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was 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. The trade was a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 329,142 shares of company stock valued at $50,731,178. Company insiders own 17.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FTNT. Weiss Ratings lowered shares of Fortinet from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, August 20th. HC Wainwright reiterated a "buy" rating on shares of Fortinet in a research note on Thursday, July 30th. Robert W. Baird set a $165.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Rosenblatt Securities lifted their target price on Fortinet from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Stifel Nicolaus set a $175.00 price objective on shares of Fortinet and gave the stock a "hold" rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $150.91.

Fortinet Stock Up 9.7%

Shares of NASDAQ:FTNT opened at $172.78 on Friday. The company has a market capitalization of $126.77 billion, a price-to-earnings ratio of 60.84, a PEG ratio of 2.99 and a beta of 1.07. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $173.89. The business has a 50-day moving average price of $157.25 and a 200 day moving average price of $120.08. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced 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. The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business's revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts expect that Fortinet, Inc. will post 3.05 EPS for the current year.

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.

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