OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 15,173 Fortinet, Inc. $FTNT

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 15,173 shares of the software maker’s stock, valued at approximately $2,326,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. E Fund Management Co. Ltd. bought a new position in Fortinet in the 2nd quarter worth approximately $6,544,000. Frazier Financial Advisors LLC bought a new stake in Fortinet during the 2nd quarter valued at $105,000. Edmond DE Rothschild Holding S.A. bought a new stake in Fortinet during the 2nd quarter valued at $232,000. AssuredPartners Investment Advisors LLC bought a new stake in Fortinet during the 2nd quarter valued at $239,000. Finally, Johnson Financial Group Inc. acquired a new position in Fortinet during the 2nd quarter worth $7,633,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $150.79 on Friday. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The firm has a market cap of $110.64 billion, a P/E ratio of 53.10, a PEG ratio of 2.90 and a beta of 1.07. The stock has a fifty day moving average price of $156.10 and a two-hundred day moving average price of $117.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FTNT. Citigroup increased their price target on Fortinet from $165.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Bank of America reaffirmed a “buy” rating on shares of Fortinet in a report on Monday, July 27th. Mizuho set a $125.00 target price on shares of Fortinet and gave the company an “underperform” rating in a research report on Wednesday, July 15th. Finally, Compass Point set a $100.00 target price on shares of Fortinet in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $150.91.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, 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 legal filing with the Securities & Exchange Commission, 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 company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is owned by corporate 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.