Fortinet Inc’s recently made public that its Officer KEITH JENSEN acquired Company’s shares for reported $2.01 million on Nov 19 ’24. In the deal valued at $91.88 per share,21,900 shares were bought.
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Then, Xie Ken sold 22,896 shares, generating $2,267,322 in total proceeds. Upon selling the shares at $99.03, the PRESIDENT & CEO now owns 48,964,933 shares.
Before that, Xie Ken sold 22,938 shares. Fortinet Inc shares valued at $2,260,428 were divested by the PRESIDENT & CEO at a price of $98.55 per share. As a result of the transaction, Xie Ken now holds 48,946,162 shares, worth roughly $4.44 billion.
BMO Capital Markets reiterated its Fortinet Inc [FTNT] rating to a Market perform in a research note published on November 19, 2024; the price target was $100. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who increased its forecast for the stock in mid November from “a Hold” to “a Buy”. Mizuho also remained covering FTNT and has decreased its forecast on October 17, 2024 with a “an Underperform” recommendation from previously “Neutral” rating. DZ Bank revised its rating on August 08, 2024. It rated FTNT as “a Hold” which previously was an “a Sell”.
Price Performance Review of FTNT
On Tuesday, Fortinet Inc [NASDAQ:FTNT] saw its stock fall -1.19% to $90.79. Over the last five days, the stock has lost -8.43%. Fortinet Inc shares have risen nearly 55.12% since the year began. Nevertheless, the stocks have risen 77.12% over the past one year. While a 52-week high of $100.59 was reached on 11/13/24, a 52-week low of $50.65 was recorded on 08/05/24. SMA at 50 days reached $81.39, while 200 days put it at $69.23.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 89.71, which if violated will result in even more drops to 88.64. On the upside, there is a resistance level at 91.82. A further resistance level may holdings at 92.85. The Relative Strength Index (RSI) on the 14-day chart is 60.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.98, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 42.85%. Stochastics %K at 63.71% indicates the stock is a holding.
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.
