Inspire Investing LLC acquired a new position in TechTarget, Inc. (NASDAQ:TTGT – Free Report) during the first quarter, HoldingsChannel.com reports. The fund acquired 23,596 shares of the information services provider’s stock, valued at approximately $349,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TTGT. Northern Trust Corp lifted its stake in shares of TechTarget by 3.9% in the fourth quarter. Northern Trust Corp now owns 284,170 shares of the information services provider’s stock worth $5,632,000 after acquiring an additional 10,542 shares during the period. Deutsche Bank AG lifted its stake in shares of TechTarget by 49.4% in the fourth quarter. Deutsche Bank AG now owns 24,063 shares of the information services provider’s stock worth $477,000 after acquiring an additional 7,959 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of TechTarget by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock worth $295,000 after acquiring an additional 698 shares during the period. Royal Bank of Canada lifted its stake in shares of TechTarget by 30.3% in the fourth quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock worth $19,380,000 after acquiring an additional 227,459 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of TechTarget in the fourth quarter worth approximately $411,000. 93.52% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
TTGT has been the topic of a number of recent analyst reports. Lake Street Capital cut their price objective on TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Craig Hallum assumed coverage on TechTarget in a report on Monday, June 9th. They issued a “buy” rating and a $12.00 target price for the company. JPMorgan Chase & Co. downgraded TechTarget from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $18.00 to $8.00 in a report on Tuesday, June 10th. Wall Street Zen downgraded TechTarget from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of TechTarget in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TechTarget currently has a consensus rating of “Moderate Buy” and an average target price of $16.40.
View Our Latest Research Report on TTGT
Insider Activity at TechTarget
In other news, CFO Daniel T. Noreck sold 8,459 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $5.99, for a total transaction of $50,669.41. Following the completion of the sale, the chief financial officer owned 71,519 shares in the company, valued at $428,398.81. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.
TechTarget Trading Down 0.5%
NASDAQ TTGT opened at $5.97 on Monday. The company has a market cap of $426.79 million, a price-to-earnings ratio of -14.21 and a beta of 0.93. TechTarget, Inc. has a 52 week low of $5.39 and a 52 week high of $33.08. The business has a 50 day moving average price of $6.65 and a 200-day moving average price of $8.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.18.
TechTarget (NASDAQ:TTGT – Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The information services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.12 by $0.17. The firm had revenue of $119.94 million during the quarter, compared to the consensus estimate of $106.19 million. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%. As a group, equities analysts expect that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.
TechTarget Company Profile
(Free Report)
TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company’s service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.
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