Fortinet Inc (NASDAQ: FTNT) is 66.05% higher on its value in year-to-date trading and has touched a low of $54.57 and a high of $100.59 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 $94.85 in the last trading session, with the day’s gains setting it 2.34%.
Currently trading at $97.19, the stock is 0.83% and 8.28% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 13.24 million and changing 2.47% at the moment leaves the stock 34.66% off its SMA200. FTNT registered 69.17% gain for a year compared to 6-month gain of 66.76%. The firm has a 50-day simple moving average (SMA 50) of $89.755 and a 200-day simple moving average (SMA200) of $72.1729.
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The stock witnessed a 5.13% loss in the last 1 month and extending the period to 3 months gives it a 25.50%, and is -0.78% down 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 3.54% over the week and 2.65% over the month.
Fortinet Inc (FTNT) has around 13568 employees, a market worth around $76.33B and $5.71B in sales. Current P/E ratio is 48.99 and Fwd P/E is 40.08. Profit margin for the company is 26.79%. Distance from 52-week low is 78.10% and -3.38% from its 52-week high. The company has generated returns on investments over the last 12 months (80.44%).
with sales reaching $1.6B over the same period.The EPS is expected to grow by 37.74% this year, but quarterly earnings will post 10.84% year-over-year. Quarterly sales are estimated to grow 12.74% in year-over-year returns.
Fortinet Inc (FTNT) Top Institutional Holders
1700.0 institutions hold shares in Fortinet Inc (FTNT), with institutional investors hold 84.73% of the company’s shares. The shares outstanding are 765.70M, and float is at 632.35M with Short Float at 2.02%. Institutions hold 69.91% 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 Xie Ken, the company’s PRESIDENT & CEO. SEC filings show that Xie Ken sold 22,916 shares of the company’s common stock on Dec 17 ’24 at a price of $97.93 per share for a total of $2.24 million. Following the sale, the insider now owns 48.98 million shares.
Fortinet Inc disclosed in a document filed with the SEC on Dec 18 ’24 that Xie Ken (PRESIDENT & CEO) sold a total of 22,928 shares of the company’s common stock. The trade occurred on Dec 18 ’24 and was made at $95.47 per share for $2.19 million. Following the transaction, the insider now directly holds 49.0 million shares of the FTNT stock.
Still, SEC filings show that on Dec 18 ’24, KEN QING XIE (Director) Proposed Sale 22,928 shares at an average price of $97.62 for $2.24 million. The insider now directly holds shares of Fortinet Inc (FTNT).
