Jones Financial Companies Lllp Purchases 83,241 Shares of Fortinet, Inc. $FTNT

Jones Financial Companies Lllp raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 630,415 shares of the software maker’s stock after buying an additional 83,241 shares during the period. Jones Financial Companies Lllp’s holdings in Fortinet were worth $53,134,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Balboa Wealth Partners boosted its position in Fortinet by 4.3% during the second quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock worth $246,000 after purchasing an additional 96 shares during the period. Hemington Wealth Management lifted its position in Fortinet by 13.2% during the second quarter. Hemington Wealth Management now owns 851 shares of the software maker’s stock worth $89,000 after acquiring an additional 99 shares during the last quarter. Board of the Pension Protection Fund boosted its holdings in shares of Fortinet by 4.5% during the second quarter. Board of the Pension Protection Fund now owns 2,300 shares of the software maker’s stock worth $243,000 after acquiring an additional 100 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Fortinet by 41.4% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock worth $38,000 after acquiring an additional 104 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its position in shares of Fortinet by 3.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,391 shares of the software maker’s stock valued at $358,000 after purchasing an additional 108 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Up 0.0%

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

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

Analyst Ratings Changes

FTNT has been the subject of several research reports. Mizuho dropped their price target on Fortinet from $75.00 to $72.00 and set an “underperform” rating for the company in a report on Thursday, November 6th. Citigroup reiterated a “neutral” rating and issued a $85.00 price objective (up previously from $83.00) on shares of Fortinet in a research note on Monday, January 12th. Robert W. Baird dropped their price target on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Scotiabank downgraded Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price target on the stock. in a research report on Monday. Finally, Piper Sandler restated a “neutral” rating and set a $90.00 price objective (up previously from $85.00) on shares of Fortinet in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $90.48.

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.