Harbor Capital Advisors Inc. trimmed its stake in shares of TechTarget, Inc. (NASDAQ:TTGT – Free Report) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 261,724 shares of the information services provider’s stock after selling 3,010 shares during the period. Harbor Capital Advisors Inc. owned about 0.37% of TechTarget worth $2,034,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in TechTarget by 18.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider’s stock worth $145,000 after acquiring an additional 1,541 shares during the period. Louisiana State Employees Retirement System acquired a new position in TechTarget in the 1st quarter worth $190,000. Boston Partners bought a new stake in shares of TechTarget in the 1st quarter worth about $202,000. Allianz Asset Management GmbH bought a new stake in shares of TechTarget during the 1st quarter valued at about $246,000. Finally, Voya Investment Management LLC bought a new stake in shares of TechTarget during the 1st quarter valued at about $284,000. 93.52% of the stock is owned by hedge funds and other institutional investors.
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TechTarget Stock Up 3.4%
Shares of NASDAQ TTGT opened at $6.77 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. TechTarget, Inc. has a 52-week low of $5.39 and a 52-week high of $33.08. The firm has a 50 day moving average price of $6.63 and a 200 day moving average price of $8.36. The stock has a market cap of $483.98 million, a P/E ratio of -16.12 and a beta of 0.93.
TechTarget (NASDAQ:TTGT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.17. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. The firm had revenue of $119.94 million for the quarter, compared to analyst estimates of $106.19 million. Analysts expect that TechTarget, Inc. will post -0.46 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on TTGT shares. JPMorgan Chase & Co. lowered shares of TechTarget from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $18.00 to $8.00 in a research note on Tuesday, June 10th. Lake Street Capital dropped their price target on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of TechTarget in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, Craig Hallum initiated coverage on shares of TechTarget in a report on Monday, June 9th. They set a “buy” rating and a $12.00 price objective for the company. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, TechTarget presently has an average rating of “Moderate Buy” and a consensus price target of $16.40.
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Insider Buying and Selling
In other news, CFO Daniel T. Noreck sold 8,459 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $5.99, for a total value of $50,669.41. Following the sale, the chief financial officer owned 71,519 shares of the company’s stock, valued at $428,398.81. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David J. S. Flaschen acquired 20,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $119,400.00. Following the transaction, the director owned 20,000 shares of the company’s stock, valued at $119,400. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.92% of the company’s stock.
About TechTarget
(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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