ORBA Wealth Advisors L.L.C. Sells 4,456 Shares of Fortinet, Inc. $FTNT

ORBA Wealth Advisors L.L.C. cut its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 22.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,742 shares of the software maker’s stock after selling 4,456 shares during the quarter. Fortinet makes up 1.1% of ORBA Wealth Advisors L.L.C.’s holdings, making the stock its 28th biggest holding. ORBA Wealth Advisors L.L.C.’s holdings in Fortinet were worth $1,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. State Street Corp increased its position in Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Invesco Ltd. increased its position in Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. First Trust Advisors LP lifted its stake in Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Fortinet by 4.7% in the 3rd quarter. Legal & General Group Plc now owns 6,115,450 shares of the software maker’s stock valued at $514,187,000 after purchasing an additional 273,428 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Up 3.5%

Shares of FTNT opened at $121.86 on Friday. The company has a market capitalization of $89.28 billion, a PE ratio of 47.05, a PEG ratio of 3.38 and a beta of 0.92. The stock’s 50-day moving average price is $86.71 and its two-hundred day moving average price is $83.10. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $121.97.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $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. On average, analysts anticipate that Fortinet, Inc. will post 2.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FTNT shares. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. BTIG Research raised Fortinet from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Thursday, May 7th. Mizuho upped their target price on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $85.00 price target on Fortinet in a research note on Wednesday, March 11th. Finally, Barclays set a $115.00 price objective on Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.45.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet is getting a boost from the market’s reaction to its strong first-quarter results, with articles highlighting that the company beat expectations and is benefiting from AI-related cybersecurity demand. Fortinet Stock’s Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
• Positive Sentiment: NVIDIA announced a secure enterprise AI initiative with Fortinet, including the FortiAIGate security gateway, which could strengthen Fortinet’s positioning in AI security and support the stock. NVIDIA Targets Secure Enterprise AI Scale With Fortinet And Red Hat Partnerships
• Positive Sentiment: Broader market strength in technology shares and resilient economic data also helped sentiment toward Fortinet and other software/cybersecurity names. Stocks Settle Higher on Strong Tech Earnings and Economic Resilience
• Neutral Sentiment: Fortinet’s COO John Whittle appeared in a fireside chat, but the event appears informational rather than a major new business catalyst. REPLAY: Fireside Chat with Fortinet COO John Whittle
• Neutral Sentiment: Recent commentary has also focused on Fortinet’s long-term stock performance and valuation, reinforcing investor interest but not adding a fresh fundamental trigger. $100 Invested In Fortinet 10 Years Ago Would Be Worth This Much Today

Insider Buying and Selling

In other news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 2,478 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the sale, the vice president owned 9,927,517 shares of the company’s stock, valued at approximately $882,456,986.13. This trade represents a 0.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Corporate insiders own 17.60% of the company’s stock.

Fortinet Company 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.