Florida Financial Advisors LLC Sells 9,116 Shares of Fortinet, Inc. $FTNT

Florida Financial Advisors LLC cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 71.3% in the 4th quarter, HoldingsChannel reports. The firm owned 3,671 shares of the software maker’s stock after selling 9,116 shares during the quarter. Florida Financial Advisors LLC’s holdings in Fortinet were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Rothschild Wealth LLC purchased a new stake in Fortinet in the 4th quarter worth about $298,000. Nomura Asset Management Co. Ltd. increased its holdings in Fortinet by 2.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 268,802 shares of the software maker’s stock worth $21,346,000 after acquiring an additional 6,673 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in Fortinet in the 4th quarter worth about $225,000. Core Wealth Advisors LLC purchased a new stake in Fortinet in the 4th quarter worth about $34,000. Finally, MUFG Securities EMEA plc increased its holdings in Fortinet by 107.9% in the 4th quarter. MUFG Securities EMEA plc now owns 25,913 shares of the software maker’s stock worth $2,058,000 after acquiring an additional 13,446 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 153,848 shares of company stock valued at $19,446,115. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FTNT. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 target price on shares of Fortinet in a report on Thursday, May 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $83.00 target price on shares of Fortinet in a report on Friday, February 6th. JPMorgan Chase & Co. lifted their target price on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Weiss Ratings lowered Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 19th. Finally, Freedom Capital lowered Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $102.69.

Fortinet Price Performance

Shares of Fortinet stock opened at $147.14 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The business’s 50 day simple moving average is $98.25 and its two-hundred day simple moving average is $87.10. The stock has a market capitalization of $107.80 billion, a P/E ratio of 56.81, a price-to-earnings-growth ratio of 3.80 and a beta of 1.11. Fortinet, Inc. has a one year low of $70.12 and a one year high of $147.49.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts forecast that Fortinet, Inc. will post 2.77 EPS for the current year.

Fortinet Profile

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.