Advisory Research Inc. Cuts Stock Position in TechTarget, Inc. (NASDAQ:TTGT)

Advisory Research Inc. trimmed its position in shares of TechTarget, Inc. (NASDAQ:TTGT – Get Rating) by 46.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,690 shares of the information services provider’s stock after selling 23,013 shares during the period. Advisory Research Inc. owned approximately 0.09% of TechTarget worth $1,580,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TTGT. Neuberger Berman Group LLC grew its holdings in TechTarget by 20.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,060,169 shares of the information services provider’s stock valued at $121,962,000 after purchasing an additional 346,713 shares in the last quarter. Royal Bank of Canada grew its holdings in TechTarget by 3,282.9% during the 1st quarter. Royal Bank of Canada now owns 223,917 shares of the information services provider’s stock worth $18,200,000 after acquiring an additional 217,298 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in TechTarget during the 3rd quarter worth $8,442,000. BlackRock Inc. grew its holdings in TechTarget by 2.6% during the 3rd quarter. BlackRock Inc. now owns 4,130,982 shares of the information services provider’s stock worth $244,554,000 after acquiring an additional 104,107 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in TechTarget by 12.8% during the 2nd quarter. Renaissance Technologies LLC now owns 798,300 shares of the information services provider’s stock worth $52,464,000 after acquiring an additional 90,700 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TechTarget

In related news, President Rebecca Kitchens sold 750 shares of TechTarget stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $49.13, for a total value of $36,847.50. Following the sale, the president now directly owns 17,746 shares in the company, valued at approximately $871,860.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other TechTarget news, Director Robert D. Burke sold 1,200 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $39.57, for a total transaction of $47,484.00. Following the sale, the director now directly owns 1,300 shares in the company, valued at approximately $51,441. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Rebecca Kitchens sold 750 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $49.13, for a total transaction of $36,847.50. Following the sale, the president now owns 17,746 shares in the company, valued at $871,860.98. The disclosure for this sale can be found here. Insiders have sold a total of 2,700 shares of company stock worth $113,957 in the last ninety days. 8.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of TechTarget in a report on Tuesday, December 20th. They set a “neutral” rating and a $57.00 price objective for the company. Raymond James decreased their price objective on shares of TechTarget from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, February 10th. KeyCorp decreased their price objective on shares of TechTarget from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, February 10th. JPMorgan Chase & Co. assumed coverage on shares of TechTarget in a research report on Thursday, February 16th. They issued an “underweight” rating and a $41.00 price target on the stock. Finally, Cowen reduced their price target on shares of TechTarget to $47.00 in a research report on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.63.

TechTarget Trading Up 0.2 %

Shares of NASDAQ:TTGT opened at $34.22 on Wednesday. The company has a market cap of $981.09 million, a PE ratio of 26.32 and a beta of 0.96. The company’s 50-day moving average price is $43.61 and its 200 day moving average price is $50.71. TechTarget, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $85.00. The company has a quick ratio of 7.44, a current ratio of 7.44 and a debt-to-equity ratio of 2.10.

TechTarget Company Profile

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TechTarget, Inc engages in the provision of data and analytics and software solutions for purchase intent-driven marketing and sales data which delivers business impact for business-to-business companies. It operates through the North America and International geographical segments. Its solutions include tech marketing, ABM, tech sales, and intent-driven services.