The stock of Fortinet Inc (NASDAQ:FTNT) last traded at $60.73, down -0.46% from the previous session.
FTNT stock price is now 0.23% away from the 50-day moving average and -0.70% away from the 200-day moving average. The market capitalization of the company currently stands at $46.39B.
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With the price target maintained at $75, Daiwa Securities recently Upgraded its rating from Neutral to Outperform for Fortinet Inc (NASDAQ: FTNT)., while ‘HSBC Securities’ rates the stock as ‘Reduce’
In other news, Xie Ken, PRESIDENT & CEO sold 24,256 shares of the company’s stock on Jun 12 ’24. The stock was sold for $1,460,934 at an average price of $60.23. Upon completion of the transaction, the PRESIDENT & CEO now directly owns 48,759,894 shares in the company, valued at $2.96 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 11 ’24, PRESIDENT & CEO Xie Ken sold 24,235 shares of the business’s stock. A total of $1,442,643 was realized by selling the stock at an average price of $59.53. This leaves the insider owning 48,742,483 shares of the company worth $2.96 billion. A total of 17.55% of the company’s stock is owned by insiders.
During the past 12 months, Fortinet Inc has had a low of $44.12 and a high of $81.24. According to the stock market information, the enterprise value for the company is $44453453824, which is based on a 39.60 price-to-earnings ratio, a 3.70 price-to-earnings-growth ratio, and a beta of 0.98. The fifty day moving average price for FTNT is $60.5306 and a two-hundred day moving average price translates $61.15435 for the stock.
The latest earnings results from Fortinet Inc (NASDAQ: FTNT) was released for 2024-03-31. The company reported revenue of $1.35 billion for the quarter, compared to $1.26 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.21 percent.
