Fortinet (NASDAQ:FTNT) has been under a strong bear grip, hence the stock is down -2.29% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 4.28% in the past 1 week. The stock has risen by 5.62% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.71% in the past 4 weeks.
The company shares have dropped -19.39% 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 $33.32 and the 200 Day Moving Average price is recorded at $30.20.
The stock has recorded a 20-day Moving Average of 2.43% and the 50-Day Moving Average is 1.25%.
Fortinet (NASDAQ:FTNT): stock turned positive on Friday. Though the stock opened at $32.45, the bulls momentum made the stock top out at $33.47 level for the day. The stock recorded a low of $32.45 and closed the trading day at $33.46, in the green by 4.24%. The total traded volume for the day was 1,531,140. The stock had closed at $32.1 in the previous days trading.
In an insider trading activity, 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.
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.