Caisse DE Depot ET Placement DU Quebec Acquires 14,149 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 926,192 shares of the software maker's stock after acquiring an additional 14,149 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.12% of Fortinet worth $87,507,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bison Wealth LLC acquired a new stake in Fortinet during the 4th quarter valued at $585,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Fortinet during the 4th quarter worth about $94,000. Voleon Capital Management LP acquired a new position in Fortinet in the 4th quarter valued at about $7,257,000. AQR Capital Management LLC raised its holdings in Fortinet by 5.3% in the 4th quarter. AQR Capital Management LLC now owns 4,237,978 shares of the software maker's stock valued at $400,404,000 after acquiring an additional 214,879 shares during the period. Finally, Northern Trust Corp lifted its position in Fortinet by 17.2% during the fourth quarter. Northern Trust Corp now owns 6,470,320 shares of the software maker's stock worth $611,316,000 after acquiring an additional 951,233 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Trading Down 1.2 %

NASDAQ FTNT traded down $1.36 during mid-day trading on Tuesday, reaching $107.33. 4,617,645 shares of the stock were exchanged, compared to its average volume of 5,015,803. The stock has a 50 day simple moving average of $98.64 and a 200-day simple moving average of $97.01. The stock has a market cap of $82.08 billion, a P/E ratio of 47.49, a P/E/G ratio of 4.19 and a beta of 1.16. 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, Inc. has a one year low of $54.57 and a one year high of $114.82.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. On average, analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,546 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.11, for a total value of $376,266.06. Following the transaction, the vice president now owns 11,000,068 shares of the company's stock, valued at approximately $1,167,217,215.48. The trade was a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 206,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $96.93, for a total value of $19,967,580.00. Following the sale, the chief executive officer now directly owns 51,391,879 shares of the company's stock, valued at approximately $4,981,414,831.47. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 738,978 shares of company stock worth $74,135,907. 18.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FTNT shares. Rosenblatt Securities lifted their price target on Fortinet from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Citigroup boosted their target price on shares of Fortinet from $100.00 to $101.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Susquehanna lifted their price objective on shares of Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Jefferies Financial Group decreased their target price on shares of Fortinet from $115.00 to $105.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Finally, Scotiabank lifted their price target on shares of Fortinet from $115.00 to $135.00 and gave the company a "sector outperform" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Fortinet presently has a consensus rating of "Hold" and an average price target of $107.07.

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.