Orion Capital Management LLC Takes Position in Fortinet, Inc. $FTNT

Orion Capital Management LLC acquired a new position in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, Holdings Channel.com reports. The fund acquired 13,705 shares of the software maker’s stock, valued at approximately $2,105,000. Fortinet accounts for approximately 0.7% of Orion Capital Management LLC’s holdings, making the stock its 25th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the business. Expressive Wealth LLC purchased a new stake in shares of Fortinet during the 4th quarter valued at $646,000. Transamerica Financial Advisors LLC acquired a new position in Fortinet during the 2nd quarter valued at about $492,000. Leonteq Securities AG acquired a new position in Fortinet during the 4th quarter valued at about $10,422,000. Eurizon Capital SGR S.p.A. purchased a new stake in Fortinet in the fourth quarter valued at about $14,638,000. Finally, Thrivent Financial for Lutherans raised its stake in Fortinet by 156.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after buying an additional 238,299 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of research analyst reports. Truist Financial set a $183.00 price target on Fortinet and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Susquehanna lifted their target price on shares of Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. DZ Bank downgraded shares of Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. HC Wainwright restated a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Finally, Stifel Nicolaus set a $175.00 price target on shares of Fortinet and gave the stock a “hold” rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $150.91.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Fortinet Trading Down 3.9%

Shares of NASDAQ:FTNT opened at $166.00 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $173.89. The stock has a market cap of $121.80 billion, a price-to-earnings ratio of 58.45, a PEG ratio of 3.28 and a beta of 1.07. The business has a 50-day moving average price of $157.68 and a 200-day moving average price of $120.40.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Fortinet’s revenue for the quarter 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. Equities analysts predict that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 3,121 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were 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. This represents a 0.03% decrease in their ownership of the stock. 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. Insiders sold a total of 329,142 shares of company stock worth $50,731,178 over the last ninety days. 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.