Rep. Byron Donalds Sells Fortinet, Inc. (NASDAQ:FTNT) Shares

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 Stock Performance

Shares of FTNT opened at $86.46 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.24 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $66.25 billion, a P/E ratio of 34.45, a price-to-earnings-growth ratio of 3.20 and a beta of 1.09. The firm’s fifty day simple moving average is $82.28 and its two-hundred day simple moving average is $94.82. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. As a group, analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen cut shares of Fortinet from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Wedbush cut their price target on shares of Fortinet from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. KeyCorp cut shares of Fortinet from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 7th. Stifel Nicolaus cut their price objective on shares of Fortinet from $95.00 to $85.00 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Fortinet in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.03.

Hedge Funds Weigh In On Fortinet

Several large investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. lifted its position in Fortinet by 4.1% in the 3rd quarter. YHB Investment Advisors Inc. now owns 73,319 shares of the software maker’s stock valued at $6,165,000 after acquiring an additional 2,872 shares in the last quarter. Fiduciary Alliance LLC lifted its position in Fortinet by 3.0% in the 3rd quarter. Fiduciary Alliance LLC now owns 5,093 shares of the software maker’s stock valued at $428,000 after acquiring an additional 147 shares in the last quarter. Czech National Bank lifted its position in Fortinet by 6.5% in the 3rd quarter. Czech National Bank now owns 165,423 shares of the software maker’s stock valued at $13,909,000 after acquiring an additional 10,135 shares in the last quarter. Congress Park Capital LLC lifted its position in Fortinet by 3.7% in the 3rd quarter. Congress Park Capital LLC now owns 21,670 shares of the software maker’s stock valued at $1,822,000 after acquiring an additional 770 shares in the last quarter. Finally, Northside Capital Management LLC bought a new position in Fortinet in the 3rd quarter valued at about $420,000. 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.

About Fortinet

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.