Fortinet (NASDAQ:FTNT) Shares Unloaded Rep. Byron Donalds

Representative Byron Donalds (R-Florida) recently sold shares of Fortinet, Inc. (NASDAQ:FTNT). In a filing disclosed on October 07th, the Representative disclosed that they had sold between $1,001 and $15,000 in Fortinet stock on September 4th. The trade occurred in the Representative’s “MORAN WEALTH IRA” account.

Representative Byron Donalds also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 9/4/2025.
• Sold $1,001 – $15,000 in shares of Brown & Brown (NYSE:BRO) on 9/4/2025.
• Sold $1,001 – $15,000 in shares of Tradeweb Markets (NASDAQ:TW) on 9/4/2025.
• Sold $1,001 – $15,000 in shares of Molina Healthcare (NYSE:MOH) on 9/4/2025.
• Sold $1,001 – $15,000 in shares of Chipotle Mexican Grill (NYSE:CMG) on 9/4/2025.
• Purchased $1,001 – $15,000 in shares of IDEXX Laboratories (NASDAQ:IDXX) on 9/4/2025.
• Sold $1,001 – $15,000 in shares of Trade Desk (NASDAQ:TTD) on 9/4/2025.
• Sold $1,001 – $15,000 in shares of Fiserv (NYSE:FI) on 9/4/2025.
• Sold $1,001 – $15,000 in shares of Howmet Aerospace (NYSE:HWM) on 8/7/2025.
• Sold $1,001 – $15,000 in shares of Deckers Outdoor (NYSE:DECK) on 8/7/2025.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $86.19 on Friday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The business has a 50-day moving average of $82.01 and a 200-day moving average of $94.73. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24. The company has a market capitalization of $66.04 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.26 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, August 6th. The software maker reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. Fortinet had a return on equity of 111.46% and a net margin of 30.60%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ken Xie sold 158,486 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $98.48, for a total transaction of $15,607,701.28. Following the sale, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $5,061,072,243.92. This represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Xie sold 476,596 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $98.48, for a total value of $46,935,174.08. Following the sale, the vice president owned 9,730,560 shares in the company, valued at $958,265,548.80. The trade was a 4.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FTNT. Wall Street Zen downgraded Fortinet from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. UBS Group reduced their price target on Fortinet from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Mizuho reduced their price target on Fortinet from $87.00 to $75.00 and set an “underperform” rating for the company in a report on Thursday, August 7th. Erste Group Bank downgraded Fortinet from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company reduced their price target on Fortinet from $110.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.03.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FTNT. Brighton Jones LLC lifted its holdings in Fortinet by 2.2% during the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after buying an additional 221 shares during the last quarter. Bison Wealth LLC bought a new position in Fortinet during the 4th quarter worth approximately $585,000. Gateway Investment Advisers LLC lifted its holdings in Fortinet by 10.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 23,903 shares of the software maker’s stock worth $2,301,000 after buying an additional 2,227 shares during the last quarter. UMB Bank n.a. lifted its holdings in Fortinet by 72.8% during the 1st quarter. UMB Bank n.a. now owns 77,854 shares of the software maker’s stock worth $7,494,000 after buying an additional 32,795 shares during the last quarter. Finally, Wedmont Private Capital raised its position in shares of Fortinet by 11.1% during the 1st quarter. Wedmont Private Capital now owns 6,451 shares of the software maker’s stock worth $630,000 after purchasing an additional 642 shares during the period. Institutional investors own 83.71% of the company’s stock.

About Representative Donalds

Byron Donalds (Republican Party) is a member of the U.S. House, representing Florida’s 19th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.

Donalds (Republican Party) is running for re-election to the U.S. House to represent Florida’s 19th Congressional District. He declared candidacy for the 2026 election.

Byron Donalds was born in Brooklyn, New York, and lives in Naples, Florida. Donalds earned a bachelor’s degree in finance and marketing from Florida State University in 2002. His career experience includes working as a commercial credit officer in banking and as a portfolio manager in financial services.

Fortinet Company Profile

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.