First Horizon 13F: Cuts Fortinet (FTNT) Stake by $758K

On October 26, 2026, First Horizon trimmed its stake in Fortinet, Inc. (FTNT) by 4,241 shares, leaving it with 141,327 shares valued at approximately $25.3 million. This information comes from the fund's latest Form 13F filing with the SEC.

First Horizon's reduction reflects a 2.9% decrease in its position. The fund's total reported value in Fortinet is now about $25.3 million, which makes up 2.56% of its overall portfolio. In the filing for the quarter ending September 30, 2026, First Horizon ranked 15th among its reported holdings.

FTNT Fortinet, Inc.

$183.33 ▲ +135.40% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Other Institutional Activity in Fortinet

Gf Fund Management increased its stake in Fortinet by 48,306 shares, bringing its total to 196,264 shares worth about $35.1 million. Meanwhile, Klingman & Associates grew its holdings by 2,814 shares, ending with 4,165 shares valued at approximately $744,536. Kmg Fiduciary Partners reduced its position by 5,127 shares, now holding 59,423 shares valued at around $10.6 million.

Fortinet, Inc. Stock Up 1.9%

Fortinet shares recently traded around $183.34, which is about equal to its closing price of $183.33 on October 26, 2026. This price is above the 50-day moving average by 7.5% and significantly above the 200-day moving average by 45.2%. However, it is about 7% below its 52-week high of $197.13.

Recent Earnings

Fortinet reported trailing twelve-month revenue of approximately $7.5 billion, with an impressive year-over-year revenue growth of 25.6%. The company is set to announce its next earnings on October 28, 2026.

Insider Buying and Selling at Fortinet, Inc.

Several insiders sold shares earlier in 2026, including Kenneth Qing Xie, the CEO, who sold 161,482 shares on August 3, totaling about $26.3 million. Michael Xie, the Chief Technology Officer, sold 3,121 shares on the same date, valued at approximately $507,574.

Analysts Set New Price Targets

On October 13, 2026, TD Cowen maintained a Buy rating on Fortinet with a target price of $225. Mizuho and Wells Fargo also maintained their Underperform and Underweight ratings, respectively, with price targets of $160. The consensus recommendation for Fortinet is currently a Hold, with a mean price target of $169.31.

About Fortinet

Fortinet, Inc. provides cybersecurity solutions and integrates networking and security services globally. The recent adjustment in First Horizon's stake may reflect changing views on Fortinet's growth potential in the competitive technology sector.

Bottom Line

Investors will want to watch Fortinet's upcoming earnings announcement on October 28, 2026, for insights into the company's performance. Additionally, First Horizon's recent reduction in its position could signal shifts in investor sentiment regarding Fortinet's future prospects.