Forrester Research (FORR) Lowered to Sell at BidaskClub

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Forrester Research (NASDAQ:FORR) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, September 18th.

Several other equities research analysts have also commented on FORR. Zacks Investment Research raised shares of Forrester Research from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. ValuEngine raised shares of Forrester Research from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Finally, Barrington Research reaffirmed a “hold” rating on shares of Forrester Research in a report on Tuesday, July 24th.

Shares of NASDAQ:FORR traded up $0.25 during trading on Tuesday, hitting $40.87. 31,652 shares of the stock traded hands, compared to its average volume of 41,908. The firm has a market cap of $829.60 million, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 4.07 and a beta of 0.42. Forrester Research has a 52-week low of $36.95 and a 52-week high of $50.00.

Forrester Research (NASDAQ:FORR) last posted its earnings results on Friday, July 27th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.15. The firm had revenue of $96.35 million during the quarter, compared to analyst estimates of $93.48 million. Forrester Research had a net margin of 3.51% and a return on equity of 8.68%. As a group, equities research analysts forecast that Forrester Research will post 0.94 EPS for the current year.

In other news, Director Gretchen Teichgraeber sold 9,375 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $45.56, for a total transaction of $427,125.00. Following the completion of the sale, the director now owns 23,629 shares of the company’s stock, valued at $1,076,537.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Cliff Condon sold 2,289 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $45.00, for a total transaction of $103,005.00. Following the sale, the insider now directly owns 25,606 shares of the company’s stock, valued at approximately $1,152,270. The disclosure for this sale can be found here. Insiders have sold 17,267 shares of company stock valued at $783,263 in the last ninety days. Insiders own 43.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Martingale Asset Management L P lifted its position in Forrester Research by 3.2% in the second quarter. Martingale Asset Management L P now owns 41,304 shares of the technology company’s stock valued at $1,733,000 after buying an additional 1,300 shares during the last quarter. Swiss National Bank lifted its position in Forrester Research by 16.2% in the second quarter. Swiss National Bank now owns 17,250 shares of the technology company’s stock valued at $724,000 after buying an additional 2,400 shares during the last quarter. Citadel Advisors LLC lifted its position in Forrester Research by 32.3% in the second quarter. Citadel Advisors LLC now owns 45,259 shares of the technology company’s stock valued at $1,898,000 after buying an additional 11,058 shares during the last quarter. Victory Capital Management Inc. lifted its position in Forrester Research by 390.7% in the first quarter. Victory Capital Management Inc. now owns 25,700 shares of the technology company’s stock valued at $1,065,000 after buying an additional 20,463 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Forrester Research by 2.2% in the first quarter. Northern Trust Corp now owns 147,676 shares of the technology company’s stock valued at $6,121,000 after buying an additional 3,204 shares during the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

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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