Lombard Odier Asset Management Switzerland SA Sells 7,900 Shares of Fortinet, Inc. $FTNT

Lombard Odier Asset Management Switzerland SA cut its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 27.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,707 shares of the software maker’s stock after selling 7,900 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Fortinet were worth $1,692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC bought a new position in shares of Fortinet during the 4th quarter valued at about $585,000. HUB Investment Partners LLC grew its position in shares of Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Fortinet in the second quarter worth about $1,136,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after purchasing an additional 31,202 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Performance

NASDAQ FTNT opened at $152.38 on Tuesday. The company has a market cap of $111.64 billion, a P/E ratio of 58.83, a P/E/G ratio of 4.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The business’s 50 day moving average price is $148.53 and its 200-day moving average price is $107.17. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $170.35.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results 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. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $0.58 earnings per share. Fortinet’s revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Sell-side analysts predict that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of the stock in a transaction dated 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 sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their position. 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. In the last ninety days, insiders sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FTNT shares. Truist Financial set a $183.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Piper Sandler raised their target price on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Rosenblatt Securities boosted their price target on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Susquehanna increased their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 price objective (up from $70.00) on shares of Fortinet in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $123.61.

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.