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

Jones Financial Companies Lllp increased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 630,415 shares of the software maker’s stock after buying an additional 83,241 shares during the period. Jones Financial Companies Lllp owned 0.08% of Fortinet worth $53,134,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. LSV Asset Management acquired a new stake in Fortinet in the second quarter worth about $25,000. Financial Consulate Inc. bought a new position in shares of Fortinet in the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet during the 3rd quarter worth approximately $25,000. SJS Investment Consulting Inc. grew its holdings in Fortinet by 1,556.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after acquiring an additional 358 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Fortinet by 41.4% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock worth $38,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT opened at $81.29 on Tuesday. The firm has a fifty day simple moving average of $80.39 and a 200 day simple moving average of $83.27. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The stock 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.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating the consensus estimate 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 for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the company 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. Research analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Rosenblatt Securities upgraded Fortinet from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $100.00 in a report on Thursday, January 29th. TD Cowen upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, January 23rd. Royal Bank Of Canada reduced their price target on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 6th. Barclays decreased their target price on Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Finally, Robert W. Baird decreased their price objective on Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.