Essex Investment Management Co. LLC raised its position in Forescout Technologies Inc (NASDAQ:FSCT) by 24.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,783 shares of the company’s stock after purchasing an additional 2,116 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Forescout Technologies were worth $407,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Forescout Technologies by 128.7% in the 2nd quarter. BlackRock Inc. now owns 2,097,906 shares of the company’s stock valued at $71,873,000 after purchasing an additional 1,180,601 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Forescout Technologies by 0.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 890,093 shares of the company’s stock valued at $30,495,000 after purchasing an additional 6,110 shares during the period. Legal & General Group Plc raised its stake in shares of Forescout Technologies by 3,211.5% in the 2nd quarter. Legal & General Group Plc now owns 690,449 shares of the company’s stock valued at $23,655,000 after purchasing an additional 669,599 shares during the period. Emerald Advisers Inc. PA raised its stake in shares of Forescout Technologies by 26.5% in the 2nd quarter. Emerald Advisers Inc. PA now owns 617,911 shares of the company’s stock valued at $21,170,000 after purchasing an additional 129,530 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Forescout Technologies by 29.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 541,296 shares of the company’s stock valued at $18,545,000 after purchasing an additional 123,880 shares during the period. 54.40% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director T Kent Elliott sold 30,453 shares of Forescout Technologies stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $31.09, for a total value of $946,783.77. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Yehezkel Yeshurun sold 35,000 shares of Forescout Technologies stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $34.79, for a total value of $1,217,650.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,180,176 shares of company stock worth $43,623,256. 36.20% of the stock is owned by company insiders.
Forescout Technologies (NASDAQ:FSCT) last released its earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.19. The company had revenue of $67.59 million during the quarter, compared to analyst estimates of $63.57 million. Forescout Technologies’s revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.31) EPS. On average, equities analysts predict that Forescout Technologies Inc will post -0.95 earnings per share for the current fiscal year.
Several research firms have issued reports on FSCT. Morgan Stanley set a $34.00 price target on Forescout Technologies and gave the company a “hold” rating in a research note on Friday. UBS Group lifted their price target on Forescout Technologies from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research raised Forescout Technologies from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, July 24th. ValuEngine raised Forescout Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on Forescout Technologies to $46.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.64.
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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