In a filing, Fortinet Inc revealed its VP, ENGINEERING & CTO Xie Michael unloaded Company’s shares for reported $32.08 million on Mar 11 ’25. In the deal valued at $98.17 per share,326,784 shares were sold. As a result of this transaction, Xie Michael now holds 11,000,068 shares worth roughly $1.08 billion.
Then, GOLDMAN KENNETH A sold 1,000 shares, generating $99,320 in total proceeds. Upon selling the shares at $99.32, the Director now owns 20,612 shares.
Before that, Xie Ken sold 206,000 shares. Fortinet Inc shares valued at $19,967,936 were divested by the PRESIDENT & CEO at a price of $96.93 per share. As a result of the transaction, Xie Ken now holds 51,391,879 shares, worth roughly $5.05 billion.
A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who decreased its forecast for the stock in early February from “an Outperform” to “a Neutral”. Raymond James also remained covering FTNT and has decreased its forecast on January 14, 2025 with a “Mkt perform” recommendation from previously “an Outperform” rating. Piper Sandler revised its rating on January 06, 2025. It rated FTNT as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of FTNT
On Tuesday, Fortinet Inc [NASDAQ:FTNT] saw its stock jump 2.33% to $98.28. Over the last five days, the stock has lost -7.70%. Fortinet Inc shares have risen nearly 4.02% since the year began. Nevertheless, the stocks have risen 34.50% over the past one year. While a 52-week high of $114.82 was reached on 02/18/25, a 52-week low of $54.57 was recorded on 01/14/25. SMA at 50 days reached $101.89, while 200 days put it at $81.63.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 95.88, which if violated will result in even more drops to 93.47. On the upside, there is a resistance level at 100.31. A further resistance level may holdings at 102.34. The Relative Strength Index (RSI) on the 14-day chart is 36.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -7.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.42%. Stochastics %K at 11.85% indicates the stock is a buying.
