Oribel Capital Management LP Invests $2.12 Million in Fortinet, Inc. $FTNT

Oribel Capital Management LP acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 25,900 shares of the software maker’s stock, valued at approximately $2,117,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Fortinet during the fourth quarter worth approximately $1,152,917,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Fortinet by 87.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after purchasing an additional 4,500,194 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares during the last quarter. Van ECK Associates Corp raised its position in Fortinet by 38.9% in the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after purchasing an additional 2,166,396 shares during the period. Finally, AQR Capital Management LLC raised its position in Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after purchasing an additional 1,777,115 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. TD Cowen reissued a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Robert W. Baird set a $120.00 price objective on Fortinet in a report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $165.00 target price (up from $110.00) on shares of Fortinet in a research note on Thursday. Weiss Ratings upgraded Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Finally, Arete Research set a $104.00 price target on Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have assigned a Hold rating and four have issued 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 target price of $123.61.

Fortinet Price Performance

Shares of Fortinet stock opened at $152.37 on Friday. The company’s fifty day simple moving average is $148.02 and its two-hundred day simple moving average is $106.45. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $170.35. The firm has a market cap of $111.63 billion, a PE ratio of 58.83, a price-to-earnings-growth ratio of 4.12 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, equities analysts expect that Fortinet, Inc. will post 2.8 EPS for the current year.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last 90 days. Company insiders own 17.60% of the company’s stock.

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.