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After finishing at $65.20 in the prior trading day, Fortinet Inc (NASDAQ: FTNT) closed at $58.88, down -9.69%. In other words, the price has decreased by -$9.69 from its previous closing price. On the day, 15.89 million shares were traded. FTNT stock price reached its highest trading level at $62.49 during the session, while it also had its lowest trading level at $58.793.
Ratios:
Our goal is to gain a better understanding of FTNT by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 14.86 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 26.54. For the most recent quarter (mrq), Quick Ratio is recorded 1.08 and its Current Ratio is at 1.20.
HSBC Securities Downgraded its Hold to Reduce on February 07, 2024, while the target price for the stock was maintained at $57.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on May 02 ’24 when Xie Michael sold 24,710 shares for $64.48 per share. The transaction valued at 1,593,183 led to the insider holds 10,867,018 shares of the business.
Xie Ken sold 24,004 shares of FTNT for $1,557,362 on Apr 17 ’24. The PRESIDENT & CEO now owns 48,678,310 shares after completing the transaction at $64.88 per share. On Apr 16 ’24, another insider, Xie Ken, who serves as the PRESIDENT & CEO of the company, sold 23,992 shares for $64.75 each. As a result, the insider received 1,553,378 and left with 48,660,648 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, FTNT now has a Market Capitalization of 44944691200 and an Enterprise Value of 42859810816. As of this moment, Fortinet’s Price-to-Earnings (P/E) ratio for their current fiscal year is 38.35, and their Forward P/E ratio for the next fiscal year is 30.02. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 2.68. For the stock, the TTM Price-to-Sale (P/S) ratio is 8.33. Its current Enterprise Value per Revenue stands at 7.943 whereas that against EBITDA is 30.64.
Stock Price History:
Over the past 52 weeks, FTNT has reached a high of $81.24, while it has fallen to a 52-week low of $44.12. The 50-Day Moving Average of the stock is -13.01%, while the 200-Day Moving Average is calculated to be -5.42%.
Shares Statistics:
The stock has traded on average 5.41M shares per day over the past 3-months and 4538940 shares per day over the last 10 days, according to various share statistics. A total of 761.00M shares are outstanding, with a floating share count of 629.07M. Insiders hold about 17.54% of the company’s shares, while institutions hold 66.67% stake in the company. Shares short for FTNT as of 1713139200 were 13966069 with a Short Ratio of 2.58, compared to 1710460800 on 13300818. Therefore, it implies a Short% of Shares Outstanding of 13966069 and a Short% of Float of 2.22.
