Forescout Technologies Inc (FSCT) Short Interest Update

Forescout Technologies Inc (NASDAQ:FSCT) saw a significant decline in short interest in the month of March. As of March 29th, there was short interest totalling 1,047,862 shares, a decline of 31.4% from the March 15th total of 1,527,774 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average daily trading volume, of 384,802 shares, the short-interest ratio is presently 2.7 days.

Shares of FSCT stock opened at $39.74 on Tuesday. Forescout Technologies has a twelve month low of $22.01 and a twelve month high of $46.43. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -22.97 and a beta of 1.40. The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 0.06.

Forescout Technologies (NASDAQ:FSCT) last announced its earnings results on Thursday, February 7th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.24. Forescout Technologies had a negative return on equity of 58.44% and a negative net margin of 25.14%. The company had revenue of $84.73 million for the quarter, compared to the consensus estimate of $77.84 million. During the same period last year, the business posted ($0.13) EPS. The company’s revenue was up 34.7% on a year-over-year basis. On average, equities analysts expect that Forescout Technologies will post -1.86 EPS for the current year.

FSCT has been the topic of several research analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $44.00 price target on shares of Forescout Technologies in a research report on Wednesday, March 6th. UBS Group lifted their price target on Forescout Technologies from $43.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Zacks Investment Research downgraded Forescout Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $49.00 target price (up from $42.00) on shares of Forescout Technologies in a research note on Tuesday, March 5th. Finally, ValuEngine upgraded Forescout Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, February 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $45.78.

In other Forescout Technologies news, SVP Darren J. Milliken sold 3,870 shares of Forescout Technologies stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.97, for a total transaction of $158,553.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pedro Abreu sold 6,969 shares of Forescout Technologies stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $30.53, for a total value of $212,763.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 679,144 shares of company stock worth $26,578,283. 36.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the business. Psagot Investment House Ltd. grew its stake in shares of Forescout Technologies by 41.0% in the 4th quarter. Psagot Investment House Ltd. now owns 1,141 shares of the company’s stock valued at $30,000 after purchasing an additional 332 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Forescout Technologies by 151.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,381 shares of the company’s stock valued at $36,000 after buying an additional 831 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Forescout Technologies by 10.4% in the fourth quarter. Citigroup Inc. now owns 12,976 shares of the company’s stock valued at $337,000 after buying an additional 1,227 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Forescout Technologies by 57.1% in the fourth quarter. Acadian Asset Management LLC now owns 3,506 shares of the company’s stock valued at $91,000 after buying an additional 1,274 shares in the last quarter. Finally, Great West Life Assurance Co. Can purchased a new stake in shares of Forescout Technologies in the fourth quarter valued at approximately $60,000. Institutional investors own 57.20% of the company’s stock.

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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 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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