Geode Capital Management LLC boosted its stake in TechTarget, Inc. (NASDAQ:TTGT) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,913 shares of the information services provider’s stock after acquiring an additional 9,665 shares during the quarter. Geode Capital Management LLC owned about 0.49% of TechTarget worth $1,209,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. American International Group Inc. boosted its holdings in TechTarget by 5.6% in the 1st quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock worth $103,000 after acquiring an additional 602 shares during the period. Bank of New York Mellon Corp boosted its holdings in TechTarget by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 75,157 shares of the information services provider’s stock worth $678,000 after acquiring an additional 1,611 shares during the period. Prudential Financial Inc. boosted its holdings in TechTarget by 8.0% in the 1st quarter. Prudential Financial Inc. now owns 37,752 shares of the information services provider’s stock worth $341,000 after acquiring an additional 2,800 shares during the period. Ariel Investments LLC boosted its holdings in TechTarget by 6.1% in the 1st quarter. Ariel Investments LLC now owns 915,788 shares of the information services provider’s stock worth $8,270,000 after acquiring an additional 52,318 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in TechTarget in the 1st quarter worth approximately $641,000. Hedge funds and other institutional investors own 56.11% of the company’s stock.
TechTarget, Inc. (NASDAQ TTGT) opened at 11.21 on Wednesday. The company has a market capitalization of $307.17 million, a PE ratio of 219.80 and a beta of 1.44. The company’s 50-day moving average price is $10.02 and its 200 day moving average price is $9.55. TechTarget, Inc. has a 52 week low of $7.85 and a 52 week high of $11.27.
TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). TechTarget had a return on equity of 1.38% and a net margin of 1.36%. The firm had revenue of $26.70 million for the quarter, compared to analyst estimates of $26.26 million. During the same period in the previous year, the business posted $0.11 EPS. TechTarget’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that TechTarget, Inc. will post $0.38 EPS for the current year.
In other news, President Kevin Beam sold 10,000 shares of TechTarget stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $10.21, for a total transaction of $102,100.00. Following the sale, the president now owns 498,033 shares of the company’s stock, valued at approximately $5,084,916.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 30.19% of the stock is currently owned by company insiders.
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A number of research firms have weighed in on TTGT. Jefferies Group LLC cut TechTarget from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a report on Thursday, August 17th. BidaskClub cut TechTarget from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Craig Hallum upgraded TechTarget from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research cut TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.75.
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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