Fortinet Inc (NASDAQ: FTNT) is 29.51% higher on its value in year-to-date trading and has touched a low of $44.12 and a high of $78.08 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FTNT stock was last observed hovering at around $76.87 in the last trading session, with the day’s loss setting it -1.07%.
Currently trading at $75.80, the stock is 2.45% and 17.04% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.47 million and changing -1.39% at the moment leaves the stock 20.11% off its SMA200. FTNT registered 22.44% gain for a year compared to 6-month loss of 6.28%.
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The stock witnessed a 35.82% gain in the last 1 month and extending the period to 3 months gives it a 26.95%, and is 0.25% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.94% over the week and 2.53% over the month.
Fortinet Inc (FTNT) has around 13568 employees, a market worth around $57.98B and $5.54B in sales. Current P/E ratio is 44.79 and Fwd P/E is 34.15. Profit margin for the company is 23.71%. Distance from 52-week low is 71.80% and -2.92% from its 52-week high. The company has generated returns on investments over the last 12 months (102.45%).
The EPS is expected to grow by 24.45% this year
1614.0 institutions hold shares in Fortinet Inc (FTNT), with institutional investors hold 85.86% of the company’s shares. The shares outstanding are 761.00M, and float is at 630.80M with Short Float at 2.06%. Institutions hold 70.84% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 66.87 million shares valued at $4.03 billion. The investor’s holdings represent 8.7709 of the FTNT Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 55.24 million shares valued at $3.33 billion to account for 7.2451 of the shares outstanding. The other top investors are PRICE T ROWE ASSOCIATES INC /MD/ which holds 28.99 million shares representing 3.8024 and valued at over $1.75 billion, while STATE STREET CORP holds 3.4779 of the shares totaling 26.52 million with a market value of $1.6 billion.
Fortinet Inc (FTNT) Insider Activity
The most recent transaction is an insider sale by Jensen Keith, the company’s Chief Financial Officer. SEC filings show that Jensen Keith sold 11,985 shares of the company’s common stock on Aug 27 ’24 at a price of $75.55 per share for a total of $0.91 million. Following the sale, the insider now owns 4676.0 shares.
Fortinet Inc disclosed in a document filed with the SEC on Aug 20 ’24 that Jensen Keith (Chief Financial Officer) sold a total of 4,250 shares of the company’s common stock. The trade occurred on Aug 20 ’24 and was made at $75.68 per share for $0.32 million. Following the transaction, the insider now directly holds 4676.0 shares of the FTNT stock.
Still, SEC filings show that on Aug 21 ’24, Whittle John (CHIEF OPERATING OFFICER) disposed off 103,325 shares at an average price of $75.21 for $7.77 million. The insider now directly holds 47,758 shares of Fortinet Inc (FTNT).
