Shares of Fortinet (FTNT) Sees Large Outflow of Money

Fortinet (FTNT) : Money flow in the Fortinet (FTNT) stock was negative (3.49 million) on Thursday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $6.27 million, compared to $9.76 million on downticks. The total uptick to downtick ratio was 0.64, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($3.65 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $3.65 million, indicating persistent selling. Fortinet (FTNT) traded $0.17 higher at $33.99 gaining 0.5% over the previous days close.


The stock has recorded a 20-day Moving Average of 4.23% and the 50-Day Moving Average is 2.62%. Shares have dropped -21.12% 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.

Fortinet (NASDAQ:FTNT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.24 and $33.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.43. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.99, notching a gain of 0.50% for the day. The total traded volume was 1,216,784 . The stock had closed at $33.82 on the previous day.

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.

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