SUNNYVALE, Calif.—William H. Neukom, a director at Fortinet , Inc. (NASDAQ:FTNT), has recently acquired 355 shares of the company's common stock. The cybersecurity giant, currently valued at $76 billion, has demonstrated remarkable performance with a 68% gain year-to-date, according to InvestingPro data. The purchase, valued at approximately $34,967, was executed at a price of $98.50 per share. This transaction was conducted under a Rule 10b5-1 trading plan, which Neukom adopted on June 9, 2023. Following this acquisition, Neukom directly owns 150,245 shares of Fortinet stock. Additionally, he holds shares indirectly through a grantor retained annuity trust. With an "GREAT" financial health score and trading near its 52-week high of $100.59, Fortinet shows strong momentum. InvestingPro subscribers can access 19 additional investment tips and comprehensive analysis in the Pro Research Report.
In other recent news, Microsoft (NASDAQ:MSFT) has reported a 16% year-on-year increase in Q1 FY2025 revenue, reaching $65.6 billion. Piper Sandler analysts have designated Microsoft with an Overweight rating, expecting increased Azure spending following a 2025 CIO survey. Simultaneously, Fortinet, a global leader in cybersecurity solutions, saw a series of stock target upgrades from firms like Scotiabank (TSX:BNS), Rosenblatt Securities, and TD Cowen. These upgrades followed Fortinet's Analyst Day, where the company presented optimistic medium-term targets and discussed the potential of a significant firewall refresh cycle in 2025. Both Microsoft and Fortinet have been the subjects of recent developments that investors should consider.
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