New York State Common Retirement Fund Purchases 200 Shares of Fortinet, Inc. (NASDAQ:FTNT)

New York State Common Retirement Fund grew its position in Fortinet, Inc. (NASDAQ:FTNT) by 0.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 840,073 shares of the software maker’s stock after purchasing an additional 200 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of Fortinet worth $79,370,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC lifted its position in Fortinet by 13.5% during the 4th quarter. Manchester Capital Management LLC now owns 843 shares of the software maker’s stock worth $80,000 after buying an additional 100 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Fortinet by 1.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock worth $646,000 after buying an additional 107 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Fortinet by 1.4% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 8,346 shares of the software maker’s stock worth $789,000 after buying an additional 114 shares in the last quarter. Versant Capital Management Inc lifted its position in Fortinet by 13.1% during the 4th quarter. Versant Capital Management Inc now owns 1,106 shares of the software maker’s stock worth $104,000 after buying an additional 128 shares in the last quarter. Finally, Diversified Trust Co lifted its position in Fortinet by 0.6% during the 4th quarter. Diversified Trust Co now owns 23,852 shares of the software maker’s stock worth $2,254,000 after buying an additional 135 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other Fortinet news, Director William H. Neukom purchased 355 shares of the business’s stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $98.50 per share, with a total value of $34,967.50. Following the acquisition, the director now directly owns 150,245 shares of the company’s stock, valued at $14,799,132.50. This trade represents a 0.24 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith Jensen sold 17,650 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.66, for a total value of $1,688,399.00. Following the sale, the chief financial officer now directly owns 4,689 shares of the company’s stock, valued at $448,549.74. This represents a 79.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,610 shares of company stock valued at $6,083,029 in the last quarter. 18.00% of the stock is currently owned by insiders.

Fortinet Trading Up 0.3 %

NASDAQ FTNT opened at $114.57 on Thursday. The company has a market cap of $87.81 billion, a PE ratio of 50.69, a PEG ratio of 4.09 and a beta of 1.01. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. Fortinet, Inc. has a 12 month low of $54.57 and a 12 month high of $114.82. The stock has a 50 day moving average of $99.56 and a 200-day moving average of $87.75.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. On average, equities research analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FTNT. TD Cowen upped their price target on shares of Fortinet from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group upped their target price on shares of Fortinet from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $135.00 target price (up from $120.00) on shares of Fortinet in a research report on Friday, February 7th. BMO Capital Markets upped their target price on shares of Fortinet from $88.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Finally, HSBC upgraded shares of Fortinet from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $111.00 in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to 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.