FTNT

Fortinet (FTNT) Price Target Increased by 25.24% to 76.43

The average one-year price target for Fortinet (NasdaqGS:FTNT) has been revised to 76.43 / share. This is an increase of 25.24% from the prior estimate of 61.03 dated January 16, 2024.

The price target is an average of many targets provided by analysts. The latest targets range from a low of 50.50 to a high of 96.08 / share. The average price target represents an increase of 13.00% from the latest reported closing price of 67.64 / share.

What is the Fund Sentiment?

There are 1948 funds or institutions reporting positions in Fortinet. This is a decrease of 15 owner(s) or 0.76% in the last quarter. Average portfolio weight of all funds dedicated to FTNT is 0.30%, a decrease of 16.85%. Total shares owned by institutions decreased in the last three months by 3.69% to 538,380K shares. FTNT / Fortinet, Inc. Put/Call Ratios The put/call ratio of FTNT is 0.83, indicating a bullish outlook.

What are Other Shareholders Doing?

FTNT / Fortinet, Inc. Shares Held by Institutions

Alliancebernstein holds 25,913K shares representing 3.37% ownership of the company. In it's prior filing, the firm reported owning 29,135K shares, representing a decrease of 12.43%. The firm decreased its portfolio allocation in FTNT by 19.74% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 20,765K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 20,816K shares, representing a decrease of 0.24%. The firm decreased its portfolio allocation in FTNT by 19.62% over the last quarter.

Bank of New York Mellon holds 18,300K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 18,651K shares, representing a decrease of 1.92%. The firm decreased its portfolio allocation in FTNT by 90.00% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 15,663K shares representing 2.04% ownership of the company. In it's prior filing, the firm reported owning 15,517K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in FTNT by 19.76% over the last quarter.

Geode Capital Management holds 14,239K shares representing 1.85% ownership of the company. In it's prior filing, the firm reported owning 14,120K shares, representing an increase of 0.84%. The firm decreased its portfolio allocation in FTNT by 11.70% over the last quarter.

Fortinet Background Information
(This description is provided by the company.)

Fortinet secures the largest enterprise, service provider, and government organizations around the world. Fortinet empowers its customers with complete visibility and control across the expanding attack surface and the power to take on ever-increasing performance requirements today and into the future. Only the Fortinet Security Fabric platform can address the most critical security challenges and protect data across the entire digital infrastructure, whether in networked, application, multi-cloud or edge environments. Fortinet ranks #1 in the most security appliances shipped worldwide and more than 500,000 customers trust Fortinet to protect their businesses. Both a technology company and a learning organization, the Fortinet Network Security Expert (NSE) Training Institute has one of the largest and broadest cybersecurity training programs in the industry.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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