Kornitzer Capital Management Inc. KS cut its stake in Forescout Technologies Inc (NASDAQ:FSCT) by 49.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,185 shares of the company’s stock after selling 104,230 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Forescout Technologies were worth $4,064,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Forescout Technologies in the 3rd quarter valued at about $77,000. Mirador Capital Partners LP grew its position in shares of Forescout Technologies by 6.6% in the 3rd quarter. Mirador Capital Partners LP now owns 71,460 shares of the company’s stock valued at $2,710,000 after purchasing an additional 4,423 shares during the period. California Public Employees Retirement System grew its position in shares of Forescout Technologies by 51.0% in the 3rd quarter. California Public Employees Retirement System now owns 84,692 shares of the company’s stock valued at $3,212,000 after purchasing an additional 28,610 shares during the period. Rhumbline Advisers grew its position in shares of Forescout Technologies by 1.2% in the 3rd quarter. Rhumbline Advisers now owns 51,083 shares of the company’s stock valued at $1,937,000 after purchasing an additional 590 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Forescout Technologies in the 3rd quarter valued at approximately $2,283,000. 69.71% of the stock is owned by institutional investors.
In related news, Vice Chairman David G. Dewalt sold 41,559 shares of the stock in a transaction on Thursday, August 29th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Yehezkel Yeshurun sold 6,444 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $25.74, for a total value of $165,868.56. In the last 90 days, insiders sold 168,786 shares of company stock worth $5,727,476. 13.80% of the stock is owned by company insiders.
NASDAQ:FSCT traded up $1.06 during trading hours on Friday, reaching $30.97. 508,600 shares of the stock were exchanged, compared to its average volume of 595,845. Forescout Technologies Inc has a twelve month low of $22.01 and a twelve month high of $46.43. The firm has a 50 day moving average of $32.23 and a 200 day moving average of $35.02. 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 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 analysts’ consensus estimates of ($0.01) by ($0.01). Forescout Technologies had a negative net margin of 28.14% and a negative return on equity of 73.42%. The business had revenue of $91.62 million during the quarter, compared to the consensus estimate of $90.99 million. During the same quarter last year, the company posted ($0.10) EPS. The firm’s revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Forescout Technologies Inc will post -2.01 earnings per share for the current year.
FSCT has been the subject of several research analyst reports. FBN Securities set a $35.00 price objective on Forescout Technologies and gave the company a “buy” rating in a research report on Friday, October 11th. Macquarie set a $33.00 price objective on Forescout Technologies and gave the company a “hold” rating in a research report on Friday, October 11th. UBS Group decreased their price objective on Forescout Technologies from $50.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Needham & Company LLC reiterated a “hold” rating on shares of Forescout Technologies in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered Forescout Technologies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $54.00 to $35.00 in a research report on Thursday, October 10th. Seven investment 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 a consensus 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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