Fortinet (NASDAQ:FTNT) Stock Sold Rep. Dan Newhouse

Representative Dan Newhouse (Republican-Washington) recently sold shares of Fortinet, Inc. (NASDAQ:FTNT). In a filing disclosed on July 17th, the Representative disclosed that they had sold between $1,001 and $15,000 in Fortinet stock on July 10th. The trade occurred in the Representative’s “EDWARD JONES IRA” account.

Representative Dan Newhouse also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 7/10/2026.
• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 7/10/2026.
• Sold $1,001 – $15,000 in shares of Deere & Company (NYSE:DE) on 7/10/2026.
• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 7/10/2026.
• Sold $1,001 – $15,000 in shares of United Parcel Service (NYSE:UPS) on 7/10/2026.
• Sold $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 7/10/2026.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 7/10/2026.
• Purchased $1,001 – $15,000 in shares of Amcor (NYSE:AMCR) on 7/10/2026.
• Sold $1,001 – $15,000 in shares of Magna International (NYSE:MGA) on 7/10/2026.
• Purchased $1,001 – $15,000 in shares of Accenture (NYSE:ACN) on 7/10/2026.

Fortinet Stock Down 0.8%

Shares of Fortinet stock opened at $160.36 on Tuesday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $170.35. The stock has a market capitalization of $117.49 billion, a price-to-earnings ratio of 61.92, a PEG ratio of 4.39 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The business’s 50 day simple moving average is $145.20 and its 200-day simple moving average is $104.52.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the company earned $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. Equities research analysts forecast that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Insiders Place Their Bets

In other Fortinet news, 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by insiders.

Institutional Trading of Fortinet

Hedge funds and other institutional investors have recently modified their holdings of the company. Regent Peak Wealth Advisors LLC bought a new position in Fortinet during the second quarter valued at about $201,000. Insight Wealth Strategies LLC lifted its holdings in Fortinet by 5.8% in the 2nd quarter. Insight Wealth Strategies LLC now owns 58,043 shares of the software maker’s stock valued at $9,228,000 after acquiring an additional 3,157 shares during the last quarter. KMG Fiduciary Partners LLC boosted its position in shares of Fortinet by 4.9% during the 2nd quarter. KMG Fiduciary Partners LLC now owns 64,550 shares of the software maker’s stock valued at $9,916,000 after purchasing an additional 2,994 shares in the last quarter. Community Financial Services Group LLC acquired a new position in shares of Fortinet in the 2nd quarter worth approximately $105,000. Finally, Fulton Bank N.A. bought a new stake in shares of Fortinet in the 2nd quarter worth approximately $325,000. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the topic of several analyst reports. Compass Point set a $100.00 price target on shares of Fortinet in a research note on Monday, May 4th. Barclays increased their price objective on Fortinet from $155.00 to $170.00 and gave the stock an “equal weight” rating in a report on Monday, July 13th. BTIG Research lifted their target price on Fortinet from $150.00 to $186.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Scotiabank increased their price target on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Finally, UBS Group raised their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $115.58.

About Representative Newhouse

Dan Newhouse (Republican Party) is a member of the U.S. House, representing Washington’s 4th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2027.

Newhouse (Republican Party) ran for re-election to the U.S. House to represent Washington’s 4th Congressional District. He won in the general election on November 5, 2024.

Click here to see Newhouse’s key votes in Congress.

Newhouse served as a member of the Washington House of Representatives representing District 15-Position 2 from 2003 through 2009 and as Washington Director of Agriculture from 2009 to 2013.

Newhouse was first elected to the state House in 2002 and served until he was named state Director of Agriculture in 2009. He was first appointed by Governor Christine Gregoire on February 18, 2009.

Fortinet Company 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.