Portolan Capital Management LLC Sells 58,278 Shares of Forrester Research, Inc. (NASDAQ:FORR)

Portolan Capital Management LLC reduced its stake in Forrester Research, Inc. (NASDAQ:FORR) by 22.0% during the third quarter, Holdings Channel.com reports. The fund owned 206,599 shares of the technology company’s stock after selling 58,278 shares during the quarter. Portolan Capital Management LLC’s holdings in Forrester Research were worth $3,721,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Point72 DIFC Ltd increased its holdings in Forrester Research by 62.4% during the 2nd quarter. Point72 DIFC Ltd now owns 1,713 shares of the technology company’s stock worth $29,000 after purchasing an additional 658 shares during the period. FMR LLC increased its stake in shares of Forrester Research by 138.7% during the third quarter. FMR LLC now owns 2,535 shares of the technology company’s stock valued at $46,000 after buying an additional 1,473 shares during the period. Comerica Bank raised its holdings in shares of Forrester Research by 123.3% in the first quarter. Comerica Bank now owns 11,789 shares of the technology company’s stock valued at $254,000 after acquiring an additional 6,510 shares in the last quarter. Quest Partners LLC lifted its stake in Forrester Research by 1,438.0% in the second quarter. Quest Partners LLC now owns 17,041 shares of the technology company’s stock worth $291,000 after acquiring an additional 15,933 shares during the period. Finally, Rhumbline Advisers grew its holdings in Forrester Research by 17.4% during the 2nd quarter. Rhumbline Advisers now owns 17,951 shares of the technology company’s stock worth $307,000 after acquiring an additional 2,661 shares in the last quarter. Hedge funds and other institutional investors own 55.20% of the company’s stock.

Forrester Research Trading Down 3.5 %

FORR opened at $16.70 on Wednesday. Forrester Research, Inc. has a 12 month low of $14.38 and a 12 month high of $27.89. The stock has a fifty day moving average price of $16.25 and a 200-day moving average price of $17.39. The firm has a market cap of $317.30 million, a price-to-earnings ratio of -47.71, a PEG ratio of 1.40 and a beta of 0.90. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.15.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Forrester Research from a “hold” rating to a “buy” rating in a research report on Wednesday.

About Forrester Research

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.