Florida Financial Advisors LLC Has $290,000 Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• Florida Financial Advisors LLC cut its Fortinet stake by 71.3% in the fourth quarter, leaving it with 3,671 shares worth about $290,000.
• Fortinet reported strong quarterly results, with EPS of $0.82 and revenue of $1.85 billion, both ahead of analyst expectations, while revenue rose 20.1% year over year.
• Insider selling was notable, led by COO John Whittle selling 146,015 shares for about $18.7 million; meanwhile, analysts remain cautious overall with a Hold consensus and average price target of $102.69.

Florida Financial Advisors LLC cut its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 71.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Holdings LLC bought a new position in shares of Fortinet in the third quarter valued at approximately $25,000. Ameriflex Group Inc. bought a new position in Fortinet during the third quarter worth $25,000. Wexford Capital LP bought a new position in Fortinet during the third quarter worth $25,000. Elyxium Wealth LLC bought a new position in Fortinet during the fourth quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new position in Fortinet during the third quarter worth $28,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Fortinet news, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael Xie sold 2,478 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the sale, the vice president directly owned 9,927,517 shares of the company's stock, valued at $882,456,986.13. This represents a 0.02% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 153,848 shares of company stock valued at $19,446,115 over the last quarter. 17.60% of the stock is owned by company insiders.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $147.14 on Tuesday. The company has a market capitalization of $107.80 billion, a price-to-earnings ratio of 56.81, a P/E/G ratio of 3.80 and a beta of 1.11. The firm's 50 day simple moving average is $98.25 and its 200 day simple moving average is $87.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $147.49.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FTNT. Rosenblatt Securities lifted their price target on shares of Fortinet from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Citigroup lifted their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Scotiabank lifted their price target on shares of Fortinet from $85.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. TD Cowen reiterated a "buy" rating and set a $125.00 price target (up from $100.00) on shares of Fortinet in a research note on Thursday, May 7th. Finally, Stephens set a $115.00 target price on shares of Fortinet and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $102.69.

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.

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