Public Employees Retirement Association of Colorado Has $8.41 Million Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Public Employees Retirement Association of Colorado lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,966 shares of the software maker’s stock after selling 1,514 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Fortinet were worth $8,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new position in Fortinet during the 4th quarter worth $27,000. Oarsman Capital Inc. lifted its position in Fortinet by 188.9% during the 4th quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock worth $39,000 after acquiring an additional 272 shares during the last quarter. Graney & King LLC acquired a new position in Fortinet during the 4th quarter worth $43,000. Golden State Wealth Management LLC acquired a new position in Fortinet during the 4th quarter worth $46,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Fortinet during the 4th quarter worth $56,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling

In other Fortinet news, Director Kenneth A. Goldman sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the transaction, the director now directly owns 18,612 shares of the company’s stock, valued at approximately $1,861,200. The trade was a 9.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Neukom bought 328 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $106.33 per share, with a total value of $34,876.24. Following the completion of the purchase, the director now owns 300,006 shares of the company’s stock, valued at approximately $31,899,637.98. This trade represents a 0.11 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 576,944 shares of company stock valued at $56,944,064 over the last three months. Company insiders own 18.00% of the company’s stock.

Fortinet Trading Up 0.8 %

FTNT stock opened at $102.64 on Tuesday. The company has a market cap of $78.93 billion, a P/E ratio of 45.42, a PEG ratio of 4.19 and a beta of 1.09. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $114.82. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $99.09 and a 200-day moving average of $96.18.

Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. As a group, equities research analysts expect that Fortinet, Inc. will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FTNT. The Goldman Sachs Group boosted their target price on shares of Fortinet from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Guggenheim reiterated a “neutral” rating on shares of Fortinet in a research note on Friday, February 7th. Stephens assumed coverage on shares of Fortinet in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $108.00 target price for the company. Citigroup increased their target price on shares of Fortinet from $100.00 to $101.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, UBS Group set a $123.00 target price on shares of Fortinet in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.77.

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.