Rep. Dan Newhouse Unloads Fortinet, Inc. (NASDAQ:FTNT) Stock

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 Price Performance

FTNT traded down $2.77 on Tuesday, reaching $157.59. The company had a trading volume of 977,378 shares, compared to its average volume of 6,404,938. The company has a market capitalization of $115.45 billion, a P/E ratio of 60.81, 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 company has a fifty day moving average of $145.20 and a 200-day moving average of $104.52. Fortinet, Inc. has a one year low of $70.12 and a one year high of $170.35.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm earned $0.58 EPS. Fortinet’s revenue was up 20.1% on a year-over-year basis. 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, equities research analysts anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 318,387 shares of company stock worth $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Expressive Wealth LLC acquired a new stake in shares of Fortinet in the 4th quarter valued at approximately $646,000. Trilogy Capital Inc. increased its position in Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after purchasing an additional 14,076 shares in the last quarter. Leonteq Securities AG bought a new position in Fortinet in the 4th quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. acquired a new stake in Fortinet in the fourth quarter valued at approximately $14,638,000. Finally, Thrivent Financial for Lutherans boosted its position in Fortinet by 156.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after buying an additional 238,299 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank boosted their price target on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Barclays increased their target price on shares of Fortinet from $155.00 to $170.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. Piper Sandler raised their target price on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Robert W. Baird set a $120.00 price target on Fortinet in a report on Tuesday. Finally, Stephens set a $115.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $119.48.

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.

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.