Fortinet Inc’s filing revealed that its PRESIDENT & CEO Xie Ken unloaded Company’s shares for reported $2.24 million on Dec 17 ’24. In the deal valued at $97.93 per share,22,916 shares were sold. As a result of this transaction, Xie Ken now holds 48,983,683 shares worth roughly $4.7 billion.
Then, Xie Ken sold 22,928 shares, generating $2,188,848 in total proceeds. Upon selling the shares at $95.47, the PRESIDENT & CEO now owns 49,002,422 shares.
Before that, KEN QING XIE bought 22,928 shares. Fortinet Inc shares valued at $2,238,231 were divested by the Director at a price of $97.62 per share.
Piper Sandler upgraded its Fortinet Inc [FTNT] rating to an Overweight from a a Neutral in a research note published on January 06, 2025; the price target was increased to $120 from $100. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who increased its forecast for the stock in mid December from “a Sector weight” to “an Overweight”. BMO Capital Markets also remained covering FTNT and reiterated its “Market perform” recommendation on November 19, 2024. HSBC Securities revised its rating on November 11, 2024. It rated FTNT as “a Buy” which previously was an “a Hold”.
Price Performance Review of FTNT
On Tuesday, Fortinet Inc [NASDAQ:FTNT] saw its stock fall -2.05% to $95.93. Over the last five days, the stock has gained 0.84%. Fortinet Inc shares have risen nearly 1.53% since the year began. Nevertheless, the stocks have risen 64.43% over the past one year. While a 52-week high of $101.00 was reached on 01/06/25, a 52-week low of $54.57 was recorded on 01/02/25. SMA at 50 days reached $92.66, while 200 days put it at $73.53.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 94.22, which if violated will result in even more drops to 92.51. On the upside, there is a resistance level at 97.82. A further resistance level may holdings at 99.71. The Relative Strength Index (RSI) on the 14-day chart is 51.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.95, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.06%. Stochastics %K at 57.15% 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 2024-12-13, growing by 2.66 million shares to a total of 15.28 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 12.62 million shares. There was a rise of 17.39%, which implies that there is a positive sentiment for the stock.
