Fortinet Inc’s filing revealed that its Chief Financial Officer Jensen Keith unloaded Company’s shares for reported $1.69 million on Nov 26 ’24. In the deal valued at $95.66 per share,17,650 shares were sold. As a result of this transaction, Jensen Keith now holds 4,689 shares worth roughly $0.45 million.
Then, Jensen Keith sold 4,250 shares, generating $386,013 in total proceeds. Upon selling the shares at $90.83, the Chief Financial Officer now owns 4,689 shares.
Before that, KEITH JENSEN bought 21,900 shares. Fortinet Inc shares valued at $2,012,172 were divested by the Officer at a price of $91.88 per share.
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 Friday, Fortinet Inc [NASDAQ:FTNT] saw its stock jump 1.05% to $95.05. Over the last five days, the stock has gained 1.10%. Fortinet Inc shares have risen nearly 62.40% since the year began. Nevertheless, the stocks have risen 77.33% 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 $83.98, while 200 days put it at $70.08.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 94.28, which if violated will result in even more drops to 93.52. On the upside, there is a resistance level at 95.64. A further resistance level may holdings at 96.24. The Relative Strength Index (RSI) on the 14-day chart is 62.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.73%. Stochastics %K at 56.43% 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 2024-11-15, dropping by -0.33 million shares to a total of 12.62 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 12.95 million shares. There was a decline of -2.61%, which implies that there is a negative sentiment for the stock.
