Ballentine Partners LLC Makes New Investment in Forrester Research, Inc. (NASDAQ:FORR)

Ballentine Partners LLC bought a new stake in Forrester Research, Inc. (NASDAQ:FORR) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 250,057 shares of the technology company’s stock, valued at approximately $4,271,000. Ballentine Partners LLC owned approximately 1.31% of Forrester Research as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of FORR. Quest Partners LLC acquired a new stake in Forrester Research in the fourth quarter valued at about $28,000. PNC Financial Services Group Inc. grew its stake in shares of Forrester Research by 52.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock worth $42,000 after purchasing an additional 533 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Forrester Research during the 1st quarter worth about $186,000. Paloma Partners Management Co acquired a new position in Forrester Research during the 1st quarter worth about $222,000. Finally, Quantbot Technologies LP bought a new stake in shares of Forrester Research in the 1st quarter valued at about $223,000. Institutional investors own 55.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Forrester Research from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Forrester Research Trading Down 0.7 %

Shares of FORR traded down $0.13 during trading hours on Friday, hitting $17.78. 69,057 shares of the stock were exchanged, compared to its average volume of 128,604. Forrester Research, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $31.32. The business has a 50-day moving average of $18.26 and a 200-day moving average of $18.73. The firm has a market capitalization of $339.72 million, a P/E ratio of 592.67, a price-to-earnings-growth ratio of 1.49 and a beta of 0.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91.

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

Insiders Place Their Bets

In other Forrester Research news, insider Ryan Darrah sold 3,895 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $18.26, for a total transaction of $71,122.70. Following the transaction, the insider now directly owns 19,640 shares in the company, valued at approximately $358,626.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 39.20% of the stock is currently owned by corporate insiders.

About Forrester Research

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.