Fortinet Inc’s recently made public that its Director KEN QING XIE acquired Company’s shares for reported $2.23 million on Nov 12 ’24. In the deal valued at $97.18 per share,22,938 shares were bought.
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Then, XIE FOUNDATION bought 5,000 shares, generating $485,900 in total proceeds.
Before that, Jensen Keith sold 56,705 shares. Fortinet Inc shares valued at $4,840,490 were divested by the Chief Financial Officer at a price of $85.36 per share. As a result of the transaction, Jensen Keith now holds 8,939 shares, worth roughly $0.89 million.
HSBC Securities upgraded its Fortinet Inc [FTNT] rating to a Buy from a a Hold in a research note published on November 11, 2024; the price target was increased to $111 from $83. A number of analysts have revised their coverage, including Mizuho’s analysts, who decreased its forecast for the stock in mid October from “a Neutral” to “an Underperform”. DZ Bank also remained covering FTNT and has increased its forecast on August 08, 2024 with a “Hold” recommendation from previously “Sell” rating. HSBC Securities revised its rating on August 07, 2024. It rated FTNT as “a Hold” which previously was an “a Reduce”.
Price Performance Review of FTNT
On Tuesday, Fortinet Inc [NASDAQ:FTNT] saw its stock jump 2.03% to $99.15. Over the last five days, the stock has gained 27.25%. Fortinet Inc shares have risen nearly 69.40% since the year began. Nevertheless, the stocks have risen 95.10% over the past one year. While a 52-week high of $97.35 was reached on 11/12/24, a 52-week low of $49.70 was recorded on 08/05/24. SMA at 50 days reached $79.59, while 200 days put it at $68.53.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 97.53, which if violated will result in even more drops to 95.92. On the upside, there is a resistance level at 100.14. A further resistance level may holdings at 101.13. The Relative Strength Index (RSI) on the 14-day chart is 85.23, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 12.77, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.65%. Stochastics %K at 98.06% indicates the stock is a selling.
How much short interest is there in Fortinet Inc?
A steep rise in short interest was recorded in Fortinet Inc stocks on 2024-10-31, dropping by -0.41 million shares to a total of 12.57 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 12.99 million shares. There was a decline of -3.28%, which implies that there is a negative sentiment for the stock.
