Massachusetts Financial Services Co. MA decreased its position in ForeScout Technologies (NASDAQ:FSCT) by 22.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 439,303 shares of the company’s stock after selling 127,086 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.12% of ForeScout Technologies worth $14,251,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. acquired a new position in ForeScout Technologies in the fourth quarter valued at $115,000. The Manufacturers Life Insurance Company acquired a new position in ForeScout Technologies in the fourth quarter valued at $134,000. Keybank National Association OH acquired a new position in ForeScout Technologies in the fourth quarter valued at $231,000. TIAA CREF Investment Management LLC acquired a new position in ForeScout Technologies in the fourth quarter valued at $267,000. Finally, California State Teachers Retirement System acquired a new position in ForeScout Technologies in the fourth quarter valued at $268,000. Institutional investors and hedge funds own 35.71% of the company’s stock.
Shares of NASDAQ FSCT opened at $31.09 on Friday. ForeScout Technologies has a 1-year low of $21.56 and a 1-year high of $37.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.75 and a current ratio of 2.10.
ForeScout Technologies (NASDAQ:FSCT) last announced its quarterly earnings data on Thursday, May 10th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.07. The company had revenue of $59.70 million for the quarter, compared to analyst estimates of $55.91 million. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. research analysts expect that ForeScout Technologies will post -1.03 earnings per share for the current year.
In related news, major shareholder Meritech Management Associates sold 1,014,140 shares of the company’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $27.64, for a total value of $28,030,829.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Darren J. Milliken sold 17,285 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $29.82, for a total transaction of $515,438.70. The disclosure for this sale can be found here. Insiders sold a total of 1,819,201 shares of company stock worth $50,320,397 in the last 90 days. 36.20% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on FSCT. Bank of America upped their price objective on shares of ForeScout Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Stephens began coverage on shares of ForeScout Technologies in a report on Thursday, April 5th. They set an “overweight” rating and a $37.00 price objective on the stock. Zacks Investment Research upgraded shares of ForeScout Technologies from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Tuesday, April 10th. FBN Securities began coverage on shares of ForeScout Technologies in a report on Thursday, April 5th. They set an “outperform” rating on the stock. Finally, Morgan Stanley set a $31.00 price objective on shares of ForeScout Technologies and gave the company a “hold” rating in a report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.13.
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 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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