Rep. Lisa C. McClain Sells Fortinet, Inc. (NASDAQ:FTNT) Stock

Representative Lisa C. McClain (R-Michigan) recently sold shares of Fortinet, Inc. (NASDAQ:FTNT). In a filing disclosed on November 21st, the Representative disclosed that they had sold between $1,001 and $15,000 in Fortinet stock on October 30th. The trade occurred in the Representative’s “CHARLES SCHWAB BROKERAGE ACCOUNT 924” account.

Representative Lisa C. McClain also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Ciena (NYSE:CIEN) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of Coherent (NYSE:COHR) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of Clorox (NYSE:CLX) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of Northern Trust (NASDAQ:NTRS) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of Honda Motor (NYSE:HMC) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of Home BancShares (NYSE:HOMB) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of Five Below (NASDAQ:FIVE) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of Pure Storage (NYSE:PSTG) on 10/31/2025.
• Sold $1,001 – $15,000 in shares of BHP Group (NYSE:BHP) on 10/31/2025.

Fortinet Stock Performance

Shares of NASDAQ:FTNT traded up $0.53 during midday trading on Friday, hitting $81.08. The stock had a trading volume of 2,195,456 shares, compared to its average volume of 5,573,866. The company has a market capitalization of $60.29 billion, a PE ratio of 32.30, a P/E/G ratio of 3.17 and a beta of 1.08. The stock has a 50 day moving average price of $83.60 and a two-hundred day moving average price of $91.02. The company has a current ratio of 1.33, a quick ratio of 1.24 and a debt-to-equity ratio of 0.24. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a return on equity of 111.46% and a net margin of 30.60%.The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. As a group, equities analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FTNT. Morgan Stanley reaffirmed an “underweight” rating and set a $67.00 price target (down previously from $78.00) on shares of Fortinet in a research note on Tuesday, September 2nd. KeyCorp lowered shares of Fortinet from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 7th. Jefferies Financial Group reduced their target price on Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Barclays cut their price target on Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Finally, Citigroup lowered shares of Fortinet from a “neutral” rating to a “mixed” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.37.

Institutional Investors Weigh In On Fortinet

Several institutional investors have recently bought and sold shares of FTNT. Norges Bank acquired a new position in Fortinet during the 2nd quarter worth approximately $1,640,900,000. Vanguard Group Inc. lifted its position in shares of Fortinet by 5.2% during the first quarter. Vanguard Group Inc. now owns 71,662,404 shares of the software maker’s stock worth $6,898,223,000 after purchasing an additional 3,546,934 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Fortinet by 62.1% in the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after purchasing an additional 2,132,109 shares during the period. First Trust Advisors LP grew its holdings in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Fortinet by 40.9% during the 1st quarter. AQR Capital Management LLC now owns 5,971,648 shares of the software maker’s stock worth $561,156,000 after buying an additional 1,733,670 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ken Xie sold 158,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total value of $13,710,537.35. Following the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the completion of the transaction, the vice president directly owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by company insiders.

About Representative McClain

Lisa McClain (Republican Party) is a member of the U.S. House, representing Michigan’s 9th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2027.

McClain (Republican Party) is running for re-election to the U.S. House to represent Michigan’s 9th Congressional District. She declared candidacy for the 2026 election.

Lisa McClain lives in Romeo, Michigan. McClain earned a bachelor’s degree in business administration from Northwood University. Her career experience includes founding and working as the president of North End Support Team.

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.