MeadowBrook Investment Advisors LLC Invests $194,000 in TechTarget, Inc. (NASDAQ:TTGT)

MeadowBrook Investment Advisors LLC bought a new stake in TechTarget, Inc. (NASDAQ:TTGT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,570 shares of the information services provider’s stock, valued at approximately $194,000.

Other large investors have also modified their holdings of the company. Impax Asset Management Group plc raised its stake in TechTarget by 60.9% during the fourth quarter. Impax Asset Management Group plc now owns 213,387 shares of the information services provider’s stock worth $7,439,000 after acquiring an additional 80,804 shares in the last quarter. Vanguard Group Inc. raised its stake in TechTarget by 1.8% during the third quarter. Vanguard Group Inc. now owns 1,959,476 shares of the information services provider’s stock worth $59,490,000 after acquiring an additional 34,024 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of TechTarget by 160.2% during the third quarter. Assenagon Asset Management S.A. now owns 202,105 shares of the information services provider’s stock worth $6,136,000 after purchasing an additional 124,433 shares during the last quarter. M&T Bank Corp grew its holdings in shares of TechTarget by 29.0% during the third quarter. M&T Bank Corp now owns 29,818 shares of the information services provider’s stock worth $906,000 after purchasing an additional 6,711 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of TechTarget by 249.2% during the fourth quarter. Federated Hermes Inc. now owns 219,739 shares of the information services provider’s stock worth $7,660,000 after purchasing an additional 156,814 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of TechTarget in a report on Thursday, February 8th. KeyCorp dropped their target price on TechTarget from $58.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. Raymond James raised their price target on TechTarget from $31.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. TheStreet downgraded TechTarget from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. Finally, UBS Group upgraded TechTarget from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $31.00 to $45.00 in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, TechTarget currently has an average rating of “Hold” and an average price target of $40.33.

Insiders Place Their Bets

In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the transaction, the chief operating officer now owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the sale, the chief operating officer now owns 40,755 shares in the company, valued at approximately $1,312,311. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Rebecca Kitchens sold 13,666 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the sale, the president now owns 53,920 shares in the company, valued at approximately $1,736,224. The disclosure for this sale can be found here. Insiders own 10.74% of the company’s stock.

TechTarget Price Performance

NASDAQ TTGT traded up $0.39 during midday trading on Monday, hitting $28.39. The company had a trading volume of 51,684 shares, compared to its average volume of 139,918. The company has a market capitalization of $810.53 million, a PE ratio of 175.01, a P/E/G ratio of 8.35 and a beta of 0.99. The company has a current ratio of 10.04, a quick ratio of 10.04 and a debt-to-equity ratio of 1.84. The firm has a 50-day moving average price of $30.24 and a 200-day moving average price of $31.13. TechTarget, Inc. has a twelve month low of $23.43 and a twelve month high of $41.93.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. The company had revenue of $57.29 million during the quarter, compared to analysts’ expectations of $56.73 million. As a group, analysts anticipate that TechTarget, Inc. will post 0.62 earnings per share for the current fiscal year.

TechTarget Profile

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.