Fortinet Inc’s filing revealed that its PRESIDENT & CEO Xie Ken unloaded Company’s shares for reported $2.15 million on Jan 15 ’25. In the deal valued at $93.32 per share,23,044 shares were sold. As a result of this transaction, Xie Ken now holds 49,039,698 shares worth roughly $4.95 billion.
Then, Xie Ken sold 23,013 shares, generating $2,123,333 in total proceeds. Upon selling the shares at $92.27, the PRESIDENT & CEO now owns 49,021,076 shares.
Before that, KEN QING XIE bought 23,044 shares. Fortinet Inc shares valued at $2,131,340 were divested by the Director at a price of $92.49 per share.
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 Friday, Fortinet Inc [NASDAQ:FTNT] saw its stock fall -0.05% to $100.88. Over the last five days, the stock has gained 4.11%. Fortinet Inc shares have risen nearly 6.77% since the year began. Nevertheless, the stocks have risen 51.22% over the past one year. While a 52-week high of $102.17 was reached on 01/31/25, a 52-week low of $54.57 was recorded on 01/14/25. SMA at 50 days reached $96.12, while 200 days put it at $75.81.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 99.94, which if violated will result in even more drops to 99.01. On the upside, there is a resistance level at 102.34. A further resistance level may holdings at 103.81. The Relative Strength Index (RSI) on the 14-day chart is 64.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.58, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 16.49%. Stochastics %K at 87.22% indicates the stock is a selling.
How much short interest is there in Fortinet Inc?
A steep rise in short interest was recorded in Fortinet Inc stocks on 2025-01-15, dropping by -0.28 million shares to a total of 14.99 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 15.28 million shares. There was a decline of -1.9%, which implies that there is a negative sentiment for the stock.
