Oregon Public Employees Retirement Fund Has $6.26 Million Holdings in Fortinet, Inc. $FTNT

Oregon Public Employees Retirement Fund boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 35.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,495 shares of the software maker’s stock after buying 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 quarter.

Several other institutional investors also recently bought and sold shares of FTNT. Capital Investment Advisors LLC lifted its position in shares of Fortinet by 6.7% in the third quarter. Capital Investment Advisors LLC now owns 4,646 shares of the software maker’s stock worth $391,000 after buying an additional 290 shares during the last quarter. Family Capital Trust Co bought a new position in shares of Fortinet in the 3rd quarter valued at approximately $160,000. Steinberganna Wealth Management bought a new position in shares of Fortinet in the 3rd quarter valued at approximately $1,800,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet in the 3rd quarter worth approximately $25,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Fortinet during the third quarter worth approximately $317,000. 83.71% of the stock is currently owned by institutional investors.

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 158,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the sale, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the completion of the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FTNT. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $75.00 price target (down previously from $85.00) on shares of Fortinet in a research report on Wednesday, December 17th. Mizuho lowered their target price on shares of Fortinet from $75.00 to $72.00 and set an “underperform” rating on the stock in a research note on Thursday, November 6th. Barclays dropped their target price on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Citigroup cut shares of Fortinet from a “neutral” rating to a “mixed” rating in a report on Monday, October 20th. Finally, Daiwa Capital Markets downgraded Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target on the stock. in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.30.

Fortinet Price 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. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The firm has a fifty day moving average price of $81.37 and a two-hundred day moving average price of $86.24. The company has a market cap of $58.91 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.77 and a beta of 1.07.

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

About Fortinet

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.