Tygh Capital Management Inc. Decreases Stake in Forescout Technologies Inc (NASDAQ:FSCT)

Tygh Capital Management Inc. lowered its position in Forescout Technologies Inc (NASDAQ:FSCT) by 1.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 202,586 shares of the company’s stock after selling 2,973 shares during the period. Tygh Capital Management Inc. owned 0.45% of Forescout Technologies worth $6,860,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Columbus Circle Investors purchased a new position in shares of Forescout Technologies during the 1st quarter worth $6,153,000. Royce & Associates LP raised its holdings in shares of Forescout Technologies by 107.7% during the 1st quarter. Royce & Associates LP now owns 54,000 shares of the company’s stock worth $2,263,000 after acquiring an additional 28,000 shares during the period. First Trust Advisors LP raised its holdings in shares of Forescout Technologies by 77.1% during the 2nd quarter. First Trust Advisors LP now owns 567,966 shares of the company’s stock worth $19,231,000 after acquiring an additional 247,249 shares during the period. Pendal Group Ltd raised its holdings in shares of Forescout Technologies by 56.9% during the 2nd quarter. Pendal Group Ltd now owns 71,086 shares of the company’s stock worth $2,407,000 after acquiring an additional 25,783 shares during the period. Finally, Sphera Funds Management LTD. raised its holdings in shares of Forescout Technologies by 27.8% during the 1st quarter. Sphera Funds Management LTD. now owns 75,625 shares of the company’s stock worth $3,169,000 after acquiring an additional 16,456 shares during the period. Institutional investors own 63.86% of the company’s stock.

Several research analysts have recently commented on FSCT shares. Zacks Investment Research upgraded Forescout Technologies from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Monday, August 12th. Robert W. Baird reiterated a “buy” rating and set a $44.00 price target on shares of Forescout Technologies in a report on Thursday, August 8th. Finally, Macquarie assumed coverage on Forescout Technologies in a report on Tuesday, July 16th. They set a “neutral” rating and a $41.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $45.50.

Shares of NASDAQ:FSCT traded up $1.47 during midday trading on Wednesday, reaching $36.26. 9,603 shares of the company’s stock were exchanged, compared to its average volume of 555,312. The firm’s 50 day simple moving average is $36.93 and its two-hundred day simple moving average is $37.68. 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 $1.67 billion, a price-to-earnings ratio of -21.05 and a beta of 1.55. Forescout Technologies Inc has a fifty-two week low of $22.01 and a fifty-two week 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, topping analysts’ consensus estimates of ($0.80) by $0.47. The firm had revenue of $78.28 million during the quarter, compared to the consensus estimate of $77.22 million. Forescout Technologies had a negative return on equity of 73.42% and a negative net margin of 28.14%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company earned ($0.18) EPS. Equities research analysts predict that Forescout Technologies Inc will post -1.84 earnings per share for the current fiscal year.

In other Forescout Technologies news, SVP Darren J. Milliken sold 1,957 shares of Forescout Technologies stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.28, for a total value of $70,999.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pedro Abreu sold 3,537 shares of Forescout Technologies stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $32.56, for a total value of $115,164.72. The disclosure for this sale can be found here. Insiders have sold a total of 117,917 shares of company stock valued at $4,228,024 over the last three months. Corporate insiders own 13.80% of the company’s stock.

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

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