Fortinet Inc’s recently made public that its Director KEN QING XIE acquired Company’s shares for reported $2.49 million on Feb 11 ’25. In the deal valued at $109.55 per share,22,700 shares were bought.
Then, Xie Ken sold 23,044 shares, generating $2,150,460 in total proceeds. Upon selling the shares at $93.32, the PRESIDENT & CEO now owns 49,039,698 shares.
Before that, Xie Ken sold 23,013 shares. Fortinet Inc shares valued at $2,123,333 were divested by the PRESIDENT & CEO at a price of $92.27 per share. As a result of the transaction, Xie Ken now holds 49,021,076 shares, worth roughly $5.31 billion.
Robert W. Baird downgraded its Fortinet Inc [FTNT] rating to a Neutral from a an Outperform in a research note published on February 03, 2025; the price target was increased to $112 from $105. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in mid January from “an Outperform” to “a Mkt perform”. Piper Sandler also remained covering FTNT and has increased its forecast on January 06, 2025 with a “an Overweight” recommendation from previously “Neutral” rating. KeyBanc Capital Markets revised its rating on December 19, 2024. It rated FTNT as “an Overweight” which previously was an “a Sector weight”.
Price Performance Review of FTNT
On Tuesday, Fortinet Inc [NASDAQ:FTNT] saw its stock fall -1.11% to $108.33. Over the last five days, the stock has gained 5.40%. Fortinet Inc shares have risen nearly 14.66% since the year began. Nevertheless, the stocks have risen 59.66% over the past one year. While a 52-week high of $110.99 was reached on 02/10/25, a 52-week low of $54.57 was recorded on 01/14/25. SMA at 50 days reached $97.87, while 200 days put it at $77.25.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 107.32, which if violated will result in even more drops to 106.30. On the upside, there is a resistance level at 109.84. A further resistance level may holdings at 111.34. The Relative Strength Index (RSI) on the 14-day chart is 73.45, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 6.29, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.75%. Stochastics %K at 86.09% 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.
The most recent change occurred on November 19, 2024 when BMO Capital Markets resumed its ‘”a Market perform”‘ rating for the stock and retained the price target to $100.
