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Company research · BUG

Fortinet, Inc.

NASDAQ:FTNT

Information Technology Services · attribution context sourced from stored price moves, stored event labels, and peer-relative residuals inside the BUG constituent company universe.

Open overview Open coverage audit Back to ETF companies

Attribution backlog

13high-priority unexplained moves

Market cap117.5B

Last close157.35

1M return-3.08%

Stored moves35

Stored price tapeDaily OHLC candles

-1.88%

Full history and event labels

May 13, 5:30 AM O 115.19 H 116.46 L 113.16 C 113.87 V 4910432, May 13, 9:30 PM O 113.205 H 117.835 L 112.71 C 117.69 V 5236583, May 14, 5:30 AM O 113.205 H 117.835 L 112.71 C 117.69 V 5236583, May 14, 9:30 PM O 118.03 H 121.97 L 115.77 C 121.86 V 5784306, May 15, 5:30 AM O 118.03 H 121.97 L 115.77 C 121.86 V 5784306, May 15, 9:30 PM O 121.17 H 123.33 L 119.49 C 122.78 V 5533777, May 16, 5:30 AM O 121.17 H 123.33 L 119.49 C 122.78 V 5533777, May 18, 9:30 PM O 121.69 H 126.61 L 120.8747 C 126.5 V 5624870, May 19, 5:30 AM O 121.69 H 126.61 L 120.8747 C 126.5 V 5624870, May 19, 9:30 PM O 127.805 H 128.2 L 123.76 C 127.64 V 7005856, May 20, 5:30 AM O 127.805 H 128.2 L 123.76 C 127.64 V 7005856, May 20, 9:30 PM O 125.91 H 130.36 L 125.3304 C 130 V 5981011, May 21, 5:30 AM O 125.91 H 130.36 L 125.3304 C 130 V 5981011, May 21, 9:30 PM O 128.91 H 129.71 L 127.4 C 129.46 V 4266227, May 22, 5:30 AM O 128.91 H 129.71 L 127.4 C 129.46 V 4266227, May 22, 9:30 PM O 130 H 134.19 L 128.5665 C 133.93 V 5819666, May 23, 5:30 AM O 130 H 134.19 L 128.5665 C 133.93 V 5819666, May 26, 9:30 PM O 132.975 H 134.91 L 130.6 C 133.96 V 4822265, May 27, 5:30 AM O 132.975 H 134.91 L 130.6 C 133.96 V 4822265, May 27, 9:30 PM O 129.55 H 131.5 L 126.78 C 127.93 V 6864694, May 28, 9:30 PM O 128.58 H 129.935 L 126.61 C 129.7 V 5807432, May 29, 9:30 PM O 129.585 H 138.11 L 129 C 137.97 V 9631544, Jun 1, 9:30 PM O 141.16 H 147.49 L 140.25 C 147.14 V 7537402, Jun 2, 9:30 PM O 144.34 H 149.03 L 141.75 C 148.86 V 7275590, Jun 3, 9:30 PM O 145.38 H 148.47 L 143.385 C 146.48 V 7983352, Jun 4, 9:30 PM O 146.2 H 150.07 L 144.32 C 149.67 V 5393030, Jun 5, 9:30 PM O 148.46 H 149.05 L 143.455 C 144.68 V 7122674, Jun 8, 9:30 PM O 145.51 H 147 L 142.505 C 143.04 V 5333453, Jun 9, 9:30 PM O 143.13 H 144.3 L 133.05 C 138.39 V 7801470, Jun 10, 9:30 PM O 137.8 H 141.3 L 137.01 C 138.88 V 6267104, Jun 11, 9:30 PM O 141.01 H 146.31 L 139.395 C 145.06 V 7433790, Jun 12, 9:30 PM O 143.642 H 146.38 L 142.1478 C 146.3 V 5084049, Jun 15, 9:30 PM O 146.32 H 149.5 L 143.98 C 149.49 V 5207304, Jun 16, 9:30 PM O 148.88 H 148.88 L 144.3323 C 147.02 V 5194609, Jun 17, 9:30 PM O 145.805 H 148 L 141.69 C 144.14 V 7649093, Jun 18, 9:30 PM O 143.485 H 147.2 L 139.79 C 144.73 V 18432871, Jun 22, 9:30 PM O 146.355 H 149.19 L 143.59 C 145.39 V 5607486, Jun 23, 9:30 PM O 144.83 H 148.36 L 143.47 C 148 V 5921180, Jun 24, 9:30 PM O 147.7 H 148.82 L 144.57 C 145.28 V 4742339, Jun 25, 9:30 PM O 144.62 H 151.97 L 144.62 C 149.93 V 6549435, Jun 26, 9:30 PM O 150.81 H 152.77 L 147.55 C 151.35 V 9199715, Jun 27, 5:30 AM O 150.81 H 152.77 L 147.55 C 151.35 V 9199715, Jun 29, 9:30 PM O 152.974 H 159.07 L 152.13 C 155.42 V 6780273, Jun 30, 5:30 AM O 152.974 H 159.07 L 152.13 C 155.42 V 6780273, Jun 30, 9:30 PM O 151.04 H 154.4652 L 150.73 C 153.62 V 6678719, Jul 1, 5:30 AM O 151.04 H 154.4652 L 150.73 C 153.62 V 6678719, Jul 1, 9:30 PM O 154.74 H 159.8 L 152.54 C 158.98 V 4734373, Jul 2, 5:30 AM O 154.74 H 159.8 L 152.54 C 158.98 V 4734373, Jul 2, 9:30 PM O 158.64 H 158.96 L 156.2 C 156.25 V 4491268, Jul 3, 5:30 AM O 158.64 H 158.96 L 156.2 C 156.25 V 4491268, Jul 6, 9:30 PM O 154.745 H 163.5699 L 153.43 C 162.35 V 5163669, Jul 7, 5:30 AM O 154.745 H 163.5699 L 153.43 C 162.35 V 5163669, Jul 7, 9:30 PM O 162.39 H 163.31 L 155.68 C 158.67 V 5827963, Jul 8, 5:30 AM O 162.39 H 163.31 L 155.68 C 158.67 V 5827963, Jul 8, 9:30 PM O 156.995 H 159.45 L 154.4227 C 156.71 V 4770245, Jul 9, 5:30 AM O 156.995 H 159.45 L 154.4227 C 156.71 V 4770245, Jul 9, 9:30 PM O 153.27 H 164.01 L 152.25 C 163.73 V 4626524, Jul 10, 5:30 AM O 153.27 H 164.01 L 152.25 C 163.73 V 4626524, Jul 10, 9:30 PM O 164.435 H 165.2799 L 156.62 C 157.51 V 3519019, Jul 11, 5:30 AM O 164.435 H 165.2799 L 156.62 C 157.51 V 3519019, Jul 13, 9:30 PM O 157.67 H 161.95 L 155.72 C 160.62 V 4098962, Jul 14, 5:30 AM O 157.67 H 161.95 L 155.72 C 160.62 V 4098962, Jul 14, 9:30 PM O 158.775 H 167.27 L 158.06 C 166.83 V 4685215, Jul 15, 5:30 AM O 158.775 H 167.27 L 158.06 C 166.83 V 4685215, Jul 15, 9:30 PM O 169.39 H 170.35 L 163.03 C 164.51 V 5088963, Jul 16, 5:30 AM O 169.39 H 170.35 L 163.03 C 164.51 V 5088963, Jul 16, 9:30 PM O 164.07 H 165 L 159.08 C 160.78 V 4145301, Jul 17, 5:30 AM O 164.07 H 165 L 159.08 C 160.78 V 4145301, Jul 17, 9:30 PM O 160.5 H 163.83 L 158.93 C 161.61 V 5651642, Jul 18, 5:30 AM O 160.5 H 163.83 L 158.93 C 161.61 V 5651642, Jul 20, 9:30 PM O 160.635 H 164.57 L 160 C 160.36 V 3775367, Jul 21, 9:30 PM O 163.38 H 163.5 L 156.02 C 157.35 V 2893362

From high -5.68%Drawdown -51.20%Stored labels 148

Price move attribution

Large moves, explained residuals, and research gaps

35 stored large-move attributions

High-priority unexplained moves13Open moves where direct company catalyst evidence is missing or weak.

Direct labels15Company-specific filings, disclosures, earnings, guidance, or direct source links.

Theme driver days0Moves benchmarked against a matched thematic basket before peer residuals.

Review workbench

High-priority unexplained moves

8 shown

Aug 4, 2023

No relevant stored event for down moveNo relevant stored event label passed the company move-attribution threshold for this -25.07% daily move. · Unexplained High Priority · generated

Move -25.07%Macro / market -0.52%Sector after macro +0.52%Industry after sector +0.75%Residual after context -25.81%

Review priority 100 · Source rank 0 · Volume 6.6x

Source gap missing_direct_company_catalyst · Next action research_company_specific_news

Decomposition: Macro -0.52% · Sector +0.52% · Industry +0.75% · Peer Specific +0.00% · Company Catalyst +0.00% · Unexplained Residual -25.81%

May 7, 2020

No relevant stored event for up moveNo relevant stored event label passed the company move-attribution threshold for this +21.23% daily move. · Unexplained High Priority · generated

Move +21.23%Macro / market +1.96%Sector after macro -0.05%Industry after sector -0.55%Residual after context +19.87%

Review priority 100 · Source rank 0 · Volume 3.3x

Source gap missing_direct_company_catalyst · Next action research_company_specific_news

Decomposition: Macro +1.96% · Sector -0.05% · Industry -0.55% · Peer Specific +0.00% · Company Catalyst +0.00% · Unexplained Residual +19.87%

Aug 4, 2022

No relevant stored event for down moveNo relevant stored event label passed the company move-attribution threshold for this -16.33% daily move. · Unexplained High Priority · generated

Move -16.33%Macro / market -0.14%Sector after macro +0.49%Industry after sector +0.67%Residual after context -17.35%

Review priority 98 · Source rank 0 · Volume 4.3x

Source gap missing_direct_company_catalyst · Next action research_company_specific_news

Decomposition: Macro -0.14% · Sector +0.49% · Industry +0.67% · Peer Specific +0.00% · Company Catalyst +0.00% · Unexplained Residual -17.35%

Nov 3, 2023

No relevant stored event for down moveNo relevant stored event label passed the company move-attribution threshold for this -12.35% daily move. · Unexplained High Priority · generated

Move -12.35%Macro / market +2.03%Sector after macro -0.07%Industry after sector -0.36%Residual after context -13.94%

Review priority 91 · Source rank 0 · Volume 6.2x

Source gap missing_direct_company_catalyst · Next action research_company_specific_news

Decomposition: Macro +2.03% · Sector -0.07% · Industry -0.36% · Peer Specific +0.00% · Company Catalyst +0.00% · Unexplained Residual -13.94%

Nov 3, 2022

No relevant stored event for down moveNo relevant stored event label passed the company move-attribution threshold for this -13.71% daily move. · Unexplained High Priority · generated

Move -13.71%Macro / market -0.97%Sector after macro -1.18%Industry after sector +0.01%Residual after context -11.57%

Review priority 82 · Source rank 0 · Volume 3.1x

Source gap missing_direct_company_catalyst · Next action research_company_specific_news

Decomposition: Macro -0.97% · Sector -1.18% · Industry +0.01% · Peer Specific +0.00% · Company Catalyst +0.00% · Unexplained Residual -11.57%

Aug 2, 2019

No relevant stored event for up moveNo relevant stored event label passed the company move-attribution threshold for this +8.90% daily move. · Unexplained High Priority · generated

Move +8.90%Macro / market -1.12%Sector after macro -0.23%Industry after sector +0.27%Residual after context +9.98%

Review priority 82 · Source rank 0 · Volume 3.9x

Source gap missing_direct_company_catalyst · Next action research_company_specific_news

Decomposition: Macro -1.12% · Sector -0.23% · Industry +0.27% · Peer Specific +0.00% · Company Catalyst +0.00% · Unexplained Residual +9.98%

Mar 19, 2020

No relevant stored event for up moveNo relevant stored event label passed the company move-attribution threshold for this +12.60% daily move. · Unexplained High Priority · generated

Move +12.60%Macro / market +2.40%Sector after macro -1.34%Industry after sector -2.00%Residual after context +13.54%

Review priority 81 · Source rank 0 · Volume 1.8x

Source gap missing_direct_company_catalyst · Next action research_company_specific_news

Decomposition: Macro +2.40% · Sector -1.34% · Industry -2.00% · Peer Specific +0.00% · Company Catalyst +0.00% · Unexplained Residual +13.54%

Nov 1, 2019

No relevant stored event for up moveNo relevant stored event label passed the company move-attribution threshold for this +10.51% daily move. · Unexplained High Priority · generated

Move +10.51%Macro / market +1.02%Sector after macro -0.18%Industry after sector +0.16%Residual after context +9.51%

Review priority 80 · Source rank 0 · Volume 3.8x

Source gap missing_direct_company_catalyst · Next action research_company_specific_news

Decomposition: Macro +1.02% · Sector -0.18% · Industry +0.16% · Peer Specific +0.00% · Company Catalyst +0.00% · Unexplained Residual +9.51%

Stored labels

Accepted price-move labels

10 shown

Date	Label	Move	Residual after context	Scope	Confidence
Feb 24, 2022	Broad market moved +2.72% with this stock	+11.23%	+12.62%	Macro	58%
Mar 7, 2022	Broad market moved -3.26% with this stock	-13.14%	-11.57%	Macro	58%
Apr 9, 2025	Broad market moved +10.29% with this stock	+13.36%	+11.77%	Macro	58%
Mar 24, 2020	Broad market moved +10.28% with this stock	+16.16%	+9.84%	Macro	58%
Sep 3, 2020	Broad market moved -3.46% with this stock	-8.97%	-8.26%	Macro	58%
Mar 13, 2020	Broad market moved +8.16% with this stock	+9.01%	+8.98%	Macro	58%
Apr 21, 2020	Broad market moved -3.44% with this stock	-9.94%	-7.30%	Macro	58%
Mar 9, 2020	Broad market moved -8.12% with this stock	-12.42%	-5.60%	Macro	58%
Nov 10, 2022	Broad market moved +6.39% with this stock	+9.04%	+6.90%	Macro	58%
Mar 12, 2020	Broad market moved -9.21% with this stock	-13.80%	-6.64%	Macro	58%