Buck Wealth Strategies LLC Buys Shares of 6,702 Fortinet, Inc. $FTNT

Buck Wealth Strategies LLC acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,702 shares of the software maker’s stock, valued at approximately $564,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Fortinet in the second quarter worth about $1,640,900,000. Vanguard Group Inc. lifted its holdings in Fortinet by 1.4% during the second quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after purchasing an additional 1,024,516 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new position in Fortinet during the second quarter valued at approximately $108,056,000. State Street Corp lifted its stake in shares of Fortinet by 3.0% during the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after buying an additional 862,468 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Fortinet by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock worth $1,783,091,000 after buying an additional 828,569 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities raised Fortinet from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $100.00 in a research note on Thursday, January 29th. UBS Group dropped their target price on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Scotiabank downgraded shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price target on the stock. in a report on Monday. Morgan Stanley reissued an “underweight” rating and set a $70.00 price objective (up previously from $66.00) on shares of Fortinet in a report on Thursday, December 18th. Finally, TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average target price of $90.48.

Fortinet Stock Up 0.0%

NASDAQ FTNT opened at $81.29 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The firm has a market capitalization of $60.45 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.82 and a beta of 1.07. The company has a fifty day moving average of $80.39 and a two-hundred day moving average of $83.27.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. On average, analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

About Fortinet

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.