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VIRGINIA RETIREMENT SYSTEMS ET Al Increases Position in Fortinet, Inc. $FTNT
VIRGINIA RETIREMENT SYSTEMS ET Al significantly increased its stake in Fortinet, Inc. during the fourth quarter, purchasing 155,500 additional shares to bring its total holdings to 560,747 shares valued at $44.5 million. This coincides with Fortinet’s better-than-expected Q1 earnings, with EPS of $0.82 and revenue of $1.85 billion, driven by positive AI and cybersecurity developments, including a major partnership with NVIDIA. Despite recent insider sales and general market warnings about extended AI rallies, analysts maintain a “Hold” consensus on FTNT with an average target price of $100.45.