Cubist Systematic Strategies LLC Increases Position in Forrester Research, Inc. (NASDAQ:FORR)

Cubist Systematic Strategies LLC increased its position in shares of Forrester Research, Inc. (NASDAQ:FORR) by 111.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,063 shares of the technology company’s stock after purchasing an additional 45,315 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.45% of Forrester Research worth $1,470,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Kent Lake Capital LLC purchased a new position in Forrester Research during the first quarter worth about $11,473,000. Ballentine Partners LLC purchased a new position in Forrester Research during the second quarter worth about $4,271,000. Acadian Asset Management LLC raised its holdings in Forrester Research by 511.8% during the second quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock worth $3,940,000 after purchasing an additional 193,116 shares in the last quarter. Wellington Management Group LLP purchased a new position in Forrester Research during the fourth quarter worth about $2,327,000. Finally, Advisors Preferred LLC purchased a new position in Forrester Research during the first quarter worth about $1,428,000. 55.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ryan Darrah sold 3,895 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $18.26, for a total value of $71,122.70. Following the sale, the insider now directly owns 19,640 shares in the company, valued at $358,626.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 39.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Forrester Research from a “buy” rating to a “hold” rating in a report on Tuesday.

Forrester Research Trading Down 6.0 %

Shares of Forrester Research stock opened at $16.93 on Wednesday. Forrester Research, Inc. has a 12-month low of $16.14 and a 12-month high of $29.93. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The stock has a market cap of $323.48 million, a PE ratio of 564.33, a price-to-earnings-growth ratio of 1.39 and a beta of 0.87. The company has a 50-day moving average of $18.46 and a two-hundred day moving average of $18.50.

Forrester Research (NASDAQ:FORR) last issued its earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.09). The company had revenue of $121.83 million during the quarter, compared to analysts’ expectations of $121.21 million. Forrester Research had a net margin of 0.32% and a return on equity of 6.52%. On average, research analysts anticipate that Forrester Research, Inc. will post 0.95 EPS for the current fiscal year.

Forrester Research Company Profile

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