Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,064 Shares of Forescout Technologies Inc (NASDAQ:FSCT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Forescout Technologies Inc (NASDAQ:FSCT) by 202.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,082 shares of the company’s stock after purchasing an additional 2,064 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Forescout Technologies were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in Forescout Technologies by 105.6% during the 1st quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock worth $102,000 after purchasing an additional 1,256 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Forescout Technologies in the 1st quarter valued at about $199,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Forescout Technologies in the 1st quarter valued at about $210,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Forescout Technologies in the 2nd quarter valued at about $220,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Forescout Technologies by 2,170.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,402 shares of the company’s stock valued at $268,000 after acquiring an additional 6,120 shares during the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Shares of FSCT stock traded up $0.04 on Thursday, reaching $36.29. The company had a trading volume of 5,706 shares, compared to its average volume of 546,861. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.69 billion, a PE ratio of -20.98 and a beta of 1.55. The company has a 50-day moving average of $36.96 and a 200-day moving average of $37.71. Forescout Technologies Inc has a 12 month low of $22.01 and a 12 month high of $46.43.

Forescout Technologies (NASDAQ:FSCT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.47. Forescout Technologies had a negative return on equity of 73.42% and a negative net margin of 28.14%. The business had revenue of $78.28 million during the quarter, compared to analyst estimates of $77.22 million. During the same period in the previous year, the firm earned ($0.18) EPS. Forescout Technologies’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Forescout Technologies Inc will post -1.84 earnings per share for the current year.

In related news, CFO Christopher Harms sold 4,898 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $32.55, for a total value of $159,429.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Decesare sold 24,989 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $35.03, for a total value of $875,364.67. The disclosure for this sale can be found here. Insiders sold a total of 117,917 shares of company stock valued at $4,228,024 over the last quarter. 13.80% of the stock is owned by insiders.

A number of analysts have recently commented on the company. Macquarie assumed coverage on Forescout Technologies in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $41.00 price target for the company. Zacks Investment Research raised Forescout Technologies from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Monday, August 12th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $44.00 price target on shares of Forescout Technologies in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.50.

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.

Further Reading: Hold Rating

Institutional Ownership by Quarter for Forescout Technologies (NASDAQ:FSCT)

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