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 $5.15 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 Robert W. Baird on February 03, 2025, Fortinet Inc [FTNT] has been rated down from an Outperform to a Neutral and the price target has been revised to $112 from $105. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid January. As of January 06, 2025, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for FTNT. Earlier on December 19, 2024, KeyBanc Capital Markets upgraded its rating. Their new recommendation was “an Overweight” for FTNT stock which previously was a “a Sector weight”.
Analyzing FTNT Stock Performance
During the last five days, there has been a surge of approximately 5.78%. Over the course of the year, Fortinet Inc shares have jumped approximately 11.21%. Shares of the company reached a 52-week high of $105.12 on 02/05/25 and a 52-week low of $90.80 on 01/14/25. A 50-day SMA is recorded $96.79, while a 200-day SMA reached $76.38. Nevertheless, trading volume fell to 4.16 million shares from 3.9 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 102.91, which, if violated, would cause prices to drop to 100.74. In the upper region, resistance lies at 106.18. The next price resistance is at 107.28. RSI (Relative Strength Index) is 73.14 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.02, which suggests the price will increase in the coming days. Percent R is at 0.43%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
