Fortinet (FTNT) Shares are Down -2.48%

Fortinet (FTNT) : During the past 4 weeks, traders have been relatively bearish on Fortinet (FTNT), hence the stock is down -5.34% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -2.53% relative to the S&P 500. The 4-week change in the price of the stock is -4.37% and the stock has fallen -2.48% in the past 1 week.

The stock has recorded a 20-day Moving Average of 5.66% and the 50-Day Moving Average is 3.28%. Fortinet (NASDAQ:FTNT): On Fridays trading session , Opening price of the stock was $32.86 with an intraday high of $32.86. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $32.43. However, the stock managed to close at $32.63, a loss of 0.67% for the day. On the previous day, the stock had closed at $32.85. The total traded volume of the day was 1,144,104 shares.


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 -17.14% . Institutional Investors own 71.59% of Fortinet shares. During last six month period, the net percent change held by insiders has seen a change of 2.07%. Also, Equity Analysts at the Brokerage Firm, Citigroup, maintains their rating on the shares of Fortinet (NASDAQ:FTNT). Citigroup has a Neutral rating on the shares. As per the latest research report, the brokerage house lowers the price target to $35 per share from a prior target of $37. The rating by the firm was issued on July 29, 2016.

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.

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