Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Fortinet Inc shares valued at $2,150,460 were sold by Xie Ken on Jan 15 ’25. At $93.32 per share, Xie Ken sold 23,044 shares. The insider’s holdings dropped to 49,039,698 shares worth approximately $4.82 billion following the completion of this transaction.
Also, Xie Ken sold 23,013 shares, netting a total of over 2,123,333 in proceeds. Following the sale of shares at $92.27 each, the insider now holds 49,021,076 shares.
Before that, KEN QING XIE had added 23,044 shares to its account. In a trade valued at $2,131,340, the Director bought Fortinet Inc shares for $92.49 each.
As published in a research note from Raymond James on January 14, 2025, Fortinet Inc [FTNT] has been rated down from an Outperform to a Mkt perform. Analysts at Piper Sandler upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early January. As of December 19, 2024, KeyBanc Capital Markets has increased its “Sector weight” rating to a “an Overweight” for FTNT. Earlier on November 19, 2024, BMO Capital Markets resumed its rating. Their recommendation was “a Market perform” for FTNT stock.
Analyzing FTNT Stock Performance
During the last five days, there has been a surge of approximately 6.22%. Over the course of the year, Fortinet Inc shares have jumped approximately 3.98%. Shares of the company reached a 52-week high of $101.00 on 01/06/25 and a 52-week low of $90.80 on 01/14/25. A 50-day SMA is recorded $95.45, while a 200-day SMA reached $74.72. Nevertheless, trading volume fell to 3.54 million shares from 3.85 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 97.11, which, if violated, would cause prices to drop to 95.97. In the upper region, resistance lies at 98.86. The next price resistance is at 99.47. RSI (Relative Strength Index) is 59.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.25, which suggests the price will increase in the coming days. Percent R is at 27.06%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
