First National Bank of Mount Dora Trust Investment Services Reduces Position in Fortinet, Inc. $FTNT

First National Bank of Mount Dora Trust Investment Services trimmed its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,670 shares of the software maker’s stock after selling 4,686 shares during the quarter. Fortinet comprises approximately 3.3% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 5th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Fortinet were worth $16,233,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FTNT. Elevation Wealth Partners LLC raised its holdings in Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after acquiring an additional 75 shares during the period. Wexford Capital LP acquired a new position in Fortinet during the 3rd quarter worth $25,000. Physician Wealth Advisors Inc. boosted its holdings in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares during the period. Palisade Asset Management LLC bought a new stake in Fortinet during the third quarter valued at about $28,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Fortinet in the fourth quarter valued at about $27,000. 83.71% of the stock is owned by institutional investors.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $159.64 on Friday. The firm has a market capitalization of $117.13 billion, a PE ratio of 56.21, a PEG ratio of 3.03 and a beta of 1.07. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 1-year low of $72.83 and a 1-year high of $172.09. The business’s 50 day moving average is $153.54 and its 200-day moving average is $112.10.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.Fortinet’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

FTNT has been the subject of several research analyst reports. Morgan Stanley reissued a “positive” rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a research report on Thursday, July 30th. Compass Point set a $100.00 target price on Fortinet in a report on Monday, May 4th. JPMorgan Chase & Co. raised 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. Arete Research set a $104.00 price target on Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Rosenblatt Securities upped their price target on Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and a consensus price target of $150.91.

Insider Activity

In other news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 475,157 shares of company stock worth $69,480,964. 17.60% of the stock is currently owned by corporate insiders.

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.