Bank OZK Has $5.81 Million Position in Fortinet, Inc. $FTNT

Bank OZK decreased its position in Fortinet, Inc. (NASDAQ:FTNT) by 8.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 37,842 shares of the software maker’s stock after selling 3,596 shares during the period. Fortinet comprises approximately 1.8% of Bank OZK’s portfolio, making the stock its 11th largest position. Bank OZK’s holdings in Fortinet were worth $5,813,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. California State Teachers Retirement System raised its stake in Fortinet by 15,545.1% during the 2nd quarter. California State Teachers Retirement System now owns 145,097,777 shares of the software maker’s stock worth $22,289,921,000 after buying an additional 144,170,346 shares during the period. BlackRock Inc. acquired a new position in Fortinet in the second quarter valued at about $9,561,650,000. Norges Bank bought a new stake in shares of Fortinet in the fourth quarter worth about $1,152,917,000. Bank of New York Mellon Corp bought a new stake in shares of Fortinet in the second quarter worth about $1,432,842,000. Finally, Legal & General Group Plc acquired a new stake in shares of Fortinet during the second quarter worth about $979,062,000. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FTNT. Scotiabank reiterated a “sector perform” rating and set a $163.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Citigroup upped their price target on shares of Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. UBS Group reissued a “neutral” rating and set a $180.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $190.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Fortinet presently has a consensus rating of “Hold” and an average price target of $150.91.

Fortinet Stock Up 0.8%

Shares of Fortinet stock traded up $1.18 during trading hours on Tuesday, reaching $157.47. 3,575,179 shares of the company’s stock were exchanged, compared to its average volume of 6,152,005. The company has a 50 day moving average of $158.90 and a two-hundred day moving average of $123.78. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $173.89. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock has a market cap of $115.54 billion, a P/E ratio of 55.45, a P/E/G ratio of 2.96 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) 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 business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. Fortinet’s quarterly 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, sell-side analysts forecast that Fortinet, Inc. will post 3.05 EPS 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.