Northern Trust Corp increased its stake in shares of Forescout Technologies Inc (NASDAQ:FSCT) by 355.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 322,634 shares of the company’s stock after acquiring an additional 251,772 shares during the quarter. Northern Trust Corp owned approximately 0.77% of Forescout Technologies worth $11,053,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC boosted its stake in Forescout Technologies by 51.6% during the second quarter. Cubist Systematic Strategies LLC now owns 9,520 shares of the company’s stock worth $326,000 after acquiring an additional 3,241 shares in the last quarter. HarbourVest Partners LLC bought a new position in Forescout Technologies during the second quarter worth $2,086,000. Millennium Management LLC boosted its stake in Forescout Technologies by 100.1% during the second quarter. Millennium Management LLC now owns 248,659 shares of the company’s stock worth $8,519,000 after acquiring an additional 124,368 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Forescout Technologies during the second quarter worth $185,000. Finally, Ontario Teachers Pension Plan Board bought a new position in Forescout Technologies during the second quarter worth $307,000. 55.56% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on FSCT shares. JPMorgan Chase & Co. increased their target price on shares of Forescout Technologies to $46.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Citigroup upped their price objective on shares of Forescout Technologies from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded shares of Forescout Technologies from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, October 9th. ValuEngine upgraded shares of Forescout Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Morgan Stanley set a $34.00 price objective on shares of Forescout Technologies and gave the stock a “hold” rating in a report on Friday, October 19th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $38.91.
FSCT opened at $27.59 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 0.10. Forescout Technologies Inc has a 1-year low of $21.56 and a 1-year high of $40.96.
Forescout Technologies (NASDAQ:FSCT) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.08). The business had revenue of $85.63 million for the quarter, compared to analysts’ expectations of $79.08 million. During the same quarter last year, the firm posted ($0.21) EPS. The company’s revenue was up 23.5% on a year-over-year basis. Equities research analysts forecast that Forescout Technologies Inc will post -0.95 earnings per share for the current year.
In other news, CEO Michael Decesare sold 10,198 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $34.80, for a total value of $354,890.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman David G. Dewalt sold 50,374 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $34.79, for a total transaction of $1,752,511.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,194,854 shares of company stock valued at $44,015,921. 36.20% of the stock is currently owned by corporate insiders.
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About Forescout Technologies
ForeScout Technologies, Inc provides network security products in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers ForeScout CounterACT agentless technology that discovers, classifies, and assesses IP-based devices; ForeScout extended modules, which represent integrations across vulnerability assessment, advanced threat detection, security incidence and event management, enterprise mobility management, endpoint protection and endpoint detection and response, next generation firewall, privileged access management, and IT systems management vendors, as well as compliance; and ForeScout CounterACT Enterprise Manager, a centralized security management solution for the control of various appliances deployed on an end-customer network, as well as maintenance and professional services.
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