Forrester Research, Inc. (NASDAQ:FORR) Short Interest Down 20.3% in June

Forrester Research, Inc. (NASDAQ:FORRGet Rating) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 129,700 shares, a decrease of 20.3% from the June 15th total of 162,800 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 46,000 shares, the days-to-cover ratio is presently 2.8 days.

Insider Activity at Forrester Research

In other Forrester Research news, insider Alicia Lee sold 1,428 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $52.00, for a total value of $74,256.00. Following the completion of the transaction, the insider now owns 3,819 shares in the company, valued at $198,588. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Forrester Research news, insider Alicia Lee sold 1,428 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $52.00, for a total value of $74,256.00. Following the completion of the transaction, the insider now owns 3,819 shares in the company, valued at $198,588. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Boyce sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $50.53, for a total transaction of $101,060.00. Following the completion of the transaction, the director now owns 7,183 shares of the company’s stock, valued at approximately $362,956.99. The disclosure for this sale can be found here. 40.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in Forrester Research by 47.7% during the first quarter. Pacer Advisors Inc. now owns 80,048 shares of the technology company’s stock worth $4,516,000 after purchasing an additional 25,848 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Forrester Research by 129.0% during the fourth quarter. Acadian Asset Management LLC now owns 49,197 shares of the technology company’s stock worth $2,880,000 after purchasing an additional 27,713 shares in the last quarter. Strs Ohio purchased a new position in Forrester Research during the fourth quarter worth about $839,000. Massachusetts Financial Services Co. MA raised its holdings in Forrester Research by 11.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 88,264 shares of the technology company’s stock worth $5,184,000 after purchasing an additional 9,308 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in Forrester Research by 503.6% during the fourth quarter. Panagora Asset Management Inc. now owns 28,955 shares of the technology company’s stock worth $1,701,000 after purchasing an additional 24,158 shares in the last quarter. 52.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Forrester Research in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company.

Forrester Research Price Performance

Shares of FORR opened at $48.42 on Friday. Forrester Research has a fifty-two week low of $42.59 and a fifty-two week high of $60.90. The company has a market capitalization of $913.98 million, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 1.64 and a beta of 0.98. The firm has a 50-day simple moving average of $48.03 and a 200-day simple moving average of $52.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82.

Forrester Research (NASDAQ:FORRGet Rating) last announced its earnings results on Thursday, May 5th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.11. Forrester Research had a net margin of 4.95% and a return on equity of 14.57%. The business had revenue of $124.97 million during the quarter, compared to the consensus estimate of $121.62 million. On average, equities research analysts anticipate that Forrester Research will post 1.8 earnings per share for the current year.

About Forrester Research

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Forrester Research, Inc operates as an independent research and advisory services company. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research portfolio services include Forrester Research, SiriusDecisions Research, and Forrester Decisions, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.

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