Oregon Public Employees Retirement Fund Acquires 19,639 Shares of Fortinet, Inc. $FTNT

Oregon Public Employees Retirement Fund grew its stake in Fortinet, Inc. (NASDAQ:FTNT) by 35.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 74,495 shares of the software maker’s stock after acquiring an additional 19,639 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Fortinet were worth $6,264,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Investment Advisors LLC boosted its stake in Fortinet by 6.7% in the 3rd quarter. Capital Investment Advisors LLC now owns 4,646 shares of the software maker’s stock valued at $391,000 after buying an additional 290 shares in the last quarter. Family Capital Trust Co acquired a new stake in shares of Fortinet in the 3rd quarter valued at $160,000. Steinberganna Wealth Management bought a new stake in shares of Fortinet in the 3rd quarter worth about $1,800,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet during the 3rd quarter worth about $25,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Fortinet during the 3rd quarter worth about $317,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total value of $13,710,537.35. Following the completion of the sale, the chief executive officer directly owned 51,391,879 shares in the company, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.53, for a total value of $306,835.38. Following the sale, the vice president directly owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group reduced their price target on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Morgan Stanley reiterated an “underweight” rating and issued a $70.00 target price (up previously from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. Piper Sandler restated a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Finally, Daiwa Capital Markets downgraded Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $90.30.

Fortinet Stock Performance

Shares of Fortinet stock opened at $79.22 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $81.37 and a 200 day simple moving average of $86.24. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The firm has a market cap of $58.91 billion, a P/E ratio of 32.60, a P/E/G ratio of 2.77 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

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.