National Pension Service Has $185.17 Million Position in Fortinet, Inc. (NASDAQ:FTNT)

National Pension Service boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,959,847 shares of the software maker’s stock after purchasing an additional 54,444 shares during the quarter. National Pension Service’s holdings in Fortinet were worth $185,166,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Manchester Capital Management LLC grew its holdings in Fortinet by 13.5% during the fourth quarter. Manchester Capital Management LLC now owns 843 shares of the software maker’s stock valued at $80,000 after purchasing an additional 100 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Fortinet by 1.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock valued at $646,000 after purchasing an additional 107 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in Fortinet by 1.4% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 8,346 shares of the software maker’s stock valued at $789,000 after purchasing an additional 114 shares during the period. Versant Capital Management Inc grew its holdings in Fortinet by 13.1% during the fourth quarter. Versant Capital Management Inc now owns 1,106 shares of the software maker’s stock valued at $104,000 after purchasing an additional 128 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Fortinet by 0.6% in the fourth quarter. Diversified Trust Co now owns 23,852 shares of the software maker’s stock valued at $2,254,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of FTNT opened at $109.02 on Thursday. The firm has a market capitalization of $83.56 billion, a PE ratio of 48.24, a PEG ratio of 4.19 and a beta of 1.01. The company’s 50-day moving average is $100.85 and its 200-day moving average is $89.36. Fortinet, Inc. has a fifty-two week low of $54.57 and a fifty-two week high of $114.82. 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 (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. Equities analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Activity

In related news, CEO Ken Xie sold 22,916 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $97.93, for a total value of $2,244,163.88. Following the transaction, the chief executive officer now directly owns 48,983,683 shares in the company, valued at approximately $4,796,972,076.19. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Neukom purchased 355 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the purchase, the director now directly owns 150,245 shares of the company’s stock, valued at $14,799,132.50. This represents 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 ninety days. 18.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on FTNT. Mizuho upped their price target on shares of Fortinet from $68.00 to $78.00 and gave the company an “underperform” rating in a report on Friday, December 13th. UBS Group upped their price target on shares of Fortinet from $70.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley upped their price target on shares of Fortinet from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Stifel Nicolaus upped their price target on shares of Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Wedbush upped their price target on shares of Fortinet from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $103.72.

Fortinet Company 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.