Citigroup Inc. lessened its holdings in Forrester Research, Inc. (NASDAQ:FORR) by 27.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,899 shares of the technology company’s stock after selling 1,839 shares during the quarter. Citigroup Inc.’s holdings in Forrester Research were worth $204,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of FORR. Russell Investments Group Ltd. boosted its holdings in shares of Forrester Research by 4.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 18,115 shares of the technology company’s stock valued at $583,000 after purchasing an additional 713 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Forrester Research in the 3rd quarter valued at $149,000. Tower Research Capital LLC TRC boosted its holdings in shares of Forrester Research by 504.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,444 shares in the last quarter. State Street Corp boosted its holdings in shares of Forrester Research by 1.5% in the 3rd quarter. State Street Corp now owns 316,284 shares of the technology company’s stock valued at $10,165,000 after purchasing an additional 4,697 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Forrester Research by 289.1% in the 3rd quarter. Squarepoint Ops LLC now owns 37,823 shares of the technology company’s stock valued at $1,216,000 after purchasing an additional 28,102 shares in the last quarter. 56.00% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on FORR shares. TheStreet raised Forrester Research from a “d+” rating to a “c-” rating in a report on Wednesday, February 12th. Barrington Research reaffirmed a “hold” rating on shares of Forrester Research in a report on Thursday, March 19th. Zacks Investment Research upgraded Forrester Research from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research note on Thursday, February 20th. Finally, BidaskClub cut Forrester Research from a “buy” rating to a “hold” rating in a research note on Saturday, January 18th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.00.
Shares of FORR opened at $28.00 on Thursday. Forrester Research, Inc. has a 52 week low of $22.45 and a 52 week high of $51.75. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average of $36.39 and a 200-day moving average of $37.73.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.09. Forrester Research had a negative return on equity of 6.39% and a negative net margin of 2.07%. The company had revenue of $124.27 million during the quarter, compared to analysts’ expectations of $123.24 million. Sell-side analysts predict that Forrester Research, Inc. will post 0.67 earnings per share for the current fiscal year.
In related news, insider Kelley Hippler sold 1,625 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $42.01, for a total transaction of $68,266.25. Following the completion of the transaction, the insider now directly owns 20,673 shares of the company’s stock, valued at approximately $868,472.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 43.40% of the stock is owned by company insiders.
About Forrester Research
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
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