Oregon Public Employees Retirement Fund Has $5.15 Million Stock Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Oregon Public Employees Retirement Fund boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 54,526 shares of the software maker’s stock after acquiring an additional 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Fortinet were worth $5,152,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Impact Investors Inc acquired a new position in Fortinet during the fourth quarter worth $412,000. National Pension Service grew its stake in shares of Fortinet by 2.9% in the 4th quarter. National Pension Service now owns 1,959,847 shares of the software maker’s stock worth $185,166,000 after acquiring an additional 54,444 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Fortinet by 2.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 6,596 shares of the software maker’s stock worth $623,000 after acquiring an additional 173 shares in the last quarter. Kirtland Hills Capital Management LLC bought a new stake in shares of Fortinet in the 4th quarter worth $299,000. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Fortinet by 74.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 168,325 shares of the software maker’s stock worth $15,903,000 after acquiring an additional 71,972 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Up 0.9 %

Shares of FTNT opened at $109.02 on Thursday. The firm’s 50 day simple moving average is $100.85 and its 200 day simple moving average is $89.36. The company has a market capitalization of $83.56 billion, a P/E ratio of 48.24, a P/E/G ratio of 4.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.39. Fortinet, Inc. has a 1-year low of $54.57 and a 1-year high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. Sell-side analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, CFO Keith Jensen sold 23,500 shares of Fortinet stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the transaction, the chief financial officer now directly owns 4,736 shares of the company’s stock, valued at approximately $537,820.16. This trade represents a 83.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William H. Neukom bought 355 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the acquisition, the director now directly owns 150,245 shares of the company’s stock, valued at approximately $14,799,132.50. The trade was a 0.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 69,460 shares of company stock valued at $7,063,290 over the last three months. 18.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FTNT shares. Cantor Fitzgerald upped their target price on shares of Fortinet from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. BMO Capital Markets upped their target price on shares of Fortinet from $88.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 19th. Raymond James reiterated a “market perform” rating on shares of Fortinet in a research note on Tuesday, January 14th. Scotiabank increased their price target on shares of Fortinet from $115.00 to $135.00 and gave the company a “sector outperform” rating in a research report on Friday, February 7th. Finally, Bank of America increased their price target on shares of Fortinet from $87.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $103.72.

Fortinet Profile

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.