Analyzing Investor Sentiment Towards Fortinet (FTNT) Stock

Fortinet stock is trading -18.51% below its average target price of $75.47 after dropping -5.7% during today's morning session. Analysts are giving the Large-Cap Computer Equipment company an average rating of hold and target prices ranging from $50.0 to $91.5 per share.

The stock has an average amount of shares sold short at 2.2%, and a short ratio of 3.04. The company's insiders own 17.5% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 69.8% of Fortinet's shares being owned by this investor type.

Institutions Invested in Fortinet

Date Reported Holder Percentage Shares Value
2023-12-31 Vanguard Group Inc 9% 67,273,216 $4,137,302,784
2023-12-31 Blackrock Inc. 7% 54,207,379 $3,333,753,808
2023-12-31 State Street Corporation 3% 26,601,877 $1,636,015,435
2023-12-31 Alliancebernstein L.P. 3% 25,913,304 $1,593,668,196
2024-03-31 Bank Of New York Mellon Corporation 2% 18,049,018 $1,110,014,607
2023-12-31 Geode Capital Management, LLC 2% 14,239,428 $875,724,822
2024-03-31 Nordea Investment Management AB 1% 8,795,102 $540,898,773
2023-12-31 Morgan Stanley 1% 7,967,861 $490,023,451
2023-12-31 Fundsmith LLP 1% 7,331,844 $450,908,406
2023-12-31 Invesco Ltd. 1% 7,249,588 $445,849,662

Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Fortinet.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.