Fortinet Inc’s recently made public that its PRESIDENT & CEO Xie Ken unloaded Company’s shares for reported $1.68 million on Mar 13 ’24. In the deal valued at $70.75 per share,23,699 shares were sold. As a result of this transaction, Xie Ken now holds 48,642,973 shares worth roughly $3.14 billion.
Then, Xie Ken sold 23,694 shares, generating $1,691,692 in total proceeds. Upon selling the shares at $71.40, the PRESIDENT & CEO now owns 48,625,005 shares.
Before that, NEUKOM WILLIAM H. bought 497 shares. Fortinet Inc shares valued at $34,939 were divested by the Director at a price of $70.30 per share. As a result of the transaction, NEUKOM WILLIAM H. now holds 294,365 shares, worth roughly $18.98 million.
Daiwa Securities upgraded its Fortinet Inc [FTNT] rating to an Outperform from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including DZ Bank’s analysts, who decreased its forecast for the stock in early February from “a Hold” to “a Sell”. HSBC Securities also remained covering FTNT and has decreased its forecast on February 07, 2024 with a “Reduce” recommendation from previously “Hold” rating. Bernstein started covering the stock on January 18, 2024. It rated FTNT as “a Mkt perform”.
Price Performance Review of FTNT
On Tuesday, Fortinet Inc [NASDAQ:FTNT] saw its stock fall -0.39% to $64.48. Over the last five days, the stock has lost -5.48%. Fortinet Inc shares have risen nearly 10.17% since the year began. Nevertheless, the stocks have fallen -5.27% over the past one year. While a 52-week high of $81.24 was reached on 02/07/24, a 52-week low of $44.12 was recorded on 01/03/24. SMA at 50 days reached $68.76, while 200 days put it at $63.03. A total of 3.01 million shares were traded, compared to the trading of 4.91 million shares in the previous session.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 63.97, which if violated will result in even more drops to 63.46. On the upside, there is a resistance level at 65.28. A further resistance level may holdings at 66.08. The Relative Strength Index (RSI) on the 14-day chart is 37.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.80, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.65%. Stochastics %K at 3.59% indicates the stock is a buying.
