Fortinet (NASDAQ:FTNT) has tumbled 1.07% during the past week and has dropped 1.1% in the last 4 week period. The company has outperformed the S&P 500 by 0.12% in the past week but underperformed the index by 2% in the last 4 weeks.
Fortinet (NASDAQ:FTNT): The stock opened at $33.47 on Friday but the bulls could not build on the opening and the stock topped out at $33.47 for the day. The stock traded down to $32.93 during the day, due to lack of any buying support eventually closed down at $33.34 with a loss of -0.09% for the day. The stock had closed at $33.37 on the previous day. The total traded volume was 3,335,334 shares.
The company shares have dropped -23.44% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $50.31 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $33.43 and the 200 Day Moving Average price is recorded at $30.30.
On the companys insider trading activities, Del Matto Andrew H, officer (Chief Financial Officer) of Fortinet Inc, unloaded 2,750 shares at an average price of $34.23 on June 1, 2016. The total amount of the transaction was worth $94,133, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Stifel Nicolaus downgrades its rating on Fortinet (NASDAQ:FTNT). Analysts at the Stifel Nicolaus have a current rating of Hold on the shares. The shares were previously rated Buy. The rating by the firm was issued on April 27, 2016. Currently the company Insiders own 16.5% of Fortinet shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -26% . Institutional Investors own 71.61% of Fortinet shares. During last six month period, the net percent change held by insiders has seen a change of -31.96%.
Fortinet, Inc. provides cyber security solutions to enterprise, service providers and government organizations across the world. The Companys network security solution consists of FortiGate physical and virtual appliance products that provide an array of integrated security and networking functions to protect data, applications and users from network-and content-level security threats. The Companys FortiGate appliances may be deployed as Next Generation Firewalls (NGFW), Data Center Firewalls (DCFW), Unified Threat Management (UTM) systems, Internal Network Firewall (INFW), Virtual Machine Firewalls or Cloud Firewalls. The FortiGate appliances range from the FortiGate-20 series for small businesses and branch offices to the FortiGate-5000 series for enterprises and service providers, and are based on its technology platform. Its security services are based on intelligence gathered by its FortiGuard Labs team.