Fortinet Inc’s recently made public that its Director KEN QING XIE acquired Company’s shares for reported $2.16 million on Jan 14 ’25. In the deal valued at $93.83 per share,23,013 shares were bought.
Then, Xie Ken sold 22,916 shares, generating $2,244,142 in total proceeds. Upon selling the shares at $97.93, the PRESIDENT & CEO now owns 48,983,683 shares.
Before that, Xie Ken sold 22,928 shares. Fortinet Inc shares valued at $2,188,848 were divested by the PRESIDENT & CEO at a price of $95.47 per share. As a result of the transaction, Xie Ken now holds 49,002,422 shares, worth roughly $4.53 billion.
Raymond James downgraded its Fortinet Inc [FTNT] rating to a Mkt perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in early January from “a Neutral” to “an Overweight”. KeyBanc Capital Markets also remained covering FTNT and has increased its forecast on December 19, 2024 with a “an Overweight” recommendation from previously “Sector weight” rating. BMO Capital Markets maintained its rating on November 19, 2024. It rated FTNT as “a Market perform”.
Price Performance Review of FTNT
On Tuesday, Fortinet Inc [NASDAQ:FTNT] saw its stock fall -1.43% to $92.49. Over the last five days, the stock has lost -5.56%. Fortinet Inc shares have fallen nearly -2.11% since the year began. Nevertheless, the stocks have risen 48.58% 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 01/14/25. SMA at 50 days reached $93.82, while 200 days put it at $74.07.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 91.08, which if violated will result in even more drops to 89.68. On the upside, there is a resistance level at 93.61. A further resistance level may holdings at 94.74. The Relative Strength Index (RSI) on the 14-day chart is 41.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.43%. Stochastics %K at 16.06% indicates the stock is a buying.
How much short interest is there in Fortinet Inc?
A steep rise in short interest was recorded in Fortinet Inc stocks on 2024-12-31, growing by 3.29 million shares to a total of 16.04 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 12.75 million shares. There was a rise of 20.5%, which implies that there is a positive sentiment for the stock.
