Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fortinet Inc shares valued at $1,688,337 were sold by Jensen Keith on Nov 26 ’24. At $95.66 per share, Jensen Keith sold 17,650 shares. The insider’s holdings dropped to 4,689 shares worth approximately $0.46 million following the completion of this transaction.
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Also, Jensen Keith sold 4,250 shares, netting a total of over 386,013 in proceeds. Following the sale of shares at $90.83 each, the insider now holds 4,689 shares.
Before that, KEITH JENSEN had added 21,900 shares to its account. In a trade valued at $2,012,172, the Officer bought Fortinet Inc shares for $91.88 each.
As published in a research note from BMO Capital Markets on November 19, 2024, Fortinet Inc [FTNT] has been retained to a Market perform and the price target has been revised to $100. Analysts at HSBC Securities upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid November. As of October 17, 2024, Mizuho has decreased its “Neutral” rating to a “an Underperform” for FTNT. Earlier on August 08, 2024, DZ Bank upgraded its rating. Their new recommendation was “a Hold” for FTNT stock which previously was a “a Sell”.
Analyzing FTNT Stock Performance
During the last five days, there has been a surge of approximately 1.81%. Over the course of the year, Fortinet Inc shares have jumped approximately 67.76%. Shares of the company reached a 52-week high of $100.59 on 11/13/24 and a 52-week low of $54.57 on 08/05/24. A 50-day SMA is recorded $85.12, while a 200-day SMA reached $70.50. Nevertheless, trading volume fell to 4.97 million shares from 8.8 million shares the previous day.
Support And Resistance Levels for Fortinet Inc (FTNT)
According to the 24-hour chart, there is a support level at 96.66, which, if violated, would cause prices to drop to 95.13. In the upper region, resistance lies at 99.11. The next price resistance is at 100.03. RSI (Relative Strength Index) is 67.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.12, which suggests the price will increase in the coming days. Percent R is at 3.51%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
