Kornitzer Capital Management Inc. KS reduced its stake in shares of Forescout Technologies Inc (NASDAQ:FSCT) by 49.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,185 shares of the company’s stock after selling 104,230 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.23% of Forescout Technologies worth $4,064,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in shares of Forescout Technologies during the third quarter worth approximately $77,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Forescout Technologies during the second quarter worth approximately $78,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Forescout Technologies by 202.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,082 shares of the company’s stock worth $104,000 after purchasing an additional 2,064 shares during the period. Aperio Group LLC acquired a new stake in shares of Forescout Technologies during the second quarter worth approximately $118,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Forescout Technologies during the second quarter worth approximately $216,000. Institutional investors and hedge funds own 69.71% of the company’s stock.
In other news, Vice Chairman David G. Dewalt sold 41,559 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.14, for a total value of $1,460,383.26. Following the sale, the insider now owns 555,112 shares in the company, valued at approximately $19,506,635.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Yehezkel Yeshurun sold 6,444 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $25.74, for a total transaction of $165,868.56. Insiders have sold 168,786 shares of company stock worth $5,727,476 in the last quarter. Corporate insiders own 13.80% of the company’s stock.
FSCT traded up $1.06 during midday trading on Friday, hitting $30.97. 508,600 shares of the company’s stock traded hands, compared to its average volume of 595,845. Forescout Technologies Inc has a one year low of $22.01 and a one year high of $46.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.15. The stock’s fifty day simple moving average is $32.23 and its 200-day simple moving average is $35.02. The company has a market cap of $1.38 billion, a PE ratio of -17.90 and a beta of 1.51.
Forescout Technologies (NASDAQ:FSCT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Forescout Technologies had a negative return on equity of 73.42% and a negative net margin of 28.14%. The business had revenue of $91.62 million for the quarter, compared to analyst estimates of $90.99 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts expect that Forescout Technologies Inc will post -2.01 EPS for the current year.
FSCT has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Forescout Technologies in a report on Friday. They set an “overweight” rating and a $37.00 price target for the company. ValuEngine cut shares of Forescout Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 21st. FBN Securities set a $35.00 price target on shares of Forescout Technologies and gave the stock a “buy” rating in a report on Friday, October 11th. Monness Crespi & Hardt decreased their price target on shares of Forescout Technologies from $49.00 to $39.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Zacks Investment Research cut shares of Forescout Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Forescout Technologies currently has a consensus rating of “Hold” and an average target price of $36.73.
Forescout Technologies Profile
Forescout Technologies, Inc provides network security products in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers CounterACT that provides for visibility and control capabilities across campus information technology and Internet of Things (IoT) devices, operational technology devices, data center physical and virtual devices, and cloud virtual devices; and SilentDefense, which offers visibility and control capabilities within the operational technology portion of the network.
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