Envestnet Asset Management Inc. Reduces Stake in TechTarget, Inc. (NASDAQ:TTGT)

Envestnet Asset Management Inc. reduced its position in TechTarget, Inc. (NASDAQ:TTGT – Get Rating) by 10.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,208 shares of the information services provider’s stock after selling 11,564 shares during the period. Envestnet Asset Management Inc. owned about 0.35% of TechTarget worth $4,547,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TTGT. Guggenheim Capital LLC grew its holdings in TechTarget by 5.3% during the 1st quarter. Guggenheim Capital LLC now owns 3,054 shares of the information services provider’s stock valued at $248,000 after buying an additional 153 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of TechTarget by 2.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 9,007 shares of the information services provider’s stock worth $533,000 after purchasing an additional 195 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of TechTarget by 17.3% in the third quarter. Advisors Asset Management Inc. now owns 1,498 shares of the information services provider’s stock valued at $89,000 after purchasing an additional 221 shares during the period. Glenmede Trust Co. NA grew its position in shares of TechTarget by 3.6% in the third quarter. Glenmede Trust Co. NA now owns 6,677 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 230 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in shares of TechTarget by 3.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 7,437 shares of the information services provider’s stock valued at $328,000 after purchasing an additional 233 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

TechTarget Stock Performance

NASDAQ TTGT opened at $30.31 on Monday. The firm has a market cap of $850.86 million, a price-to-earnings ratio of 26.82 and a beta of 0.98. The company has a 50 day moving average of $34.80 and a 200-day moving average of $42.15. The company has a current ratio of 7.44, a quick ratio of 7.44 and a debt-to-equity ratio of 2.10. TechTarget, Inc. has a 1-year low of $28.25 and a 1-year high of $74.61.

TechTarget (NASDAQ:TTGT – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The information services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $73.04 million during the quarter, compared to analyst estimates of $71.28 million. TechTarget had a net margin of 13.99% and a return on equity of 23.59%. On average, equities analysts forecast that TechTarget, Inc. will post 0.96 earnings per share for the current fiscal year.

Insider Activity at TechTarget

In other TechTarget news, President Rebecca Kitchens sold 750 shares of TechTarget stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $39.50, for a total transaction of $29,625.00. Following the completion of the sale, the president now owns 16,996 shares of the company’s stock, valued at approximately $671,342. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Rebecca Kitchens sold 750 shares of TechTarget stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $39.50, for a total transaction of $29,625.00. Following the transaction, the president now directly owns 16,996 shares of the company’s stock, valued at $671,342. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert D. Burke sold 1,200 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $39.57, for a total transaction of $47,484.00. Following the completion of the sale, the director now directly owns 1,300 shares in the company, valued at $51,441. The disclosure for this sale can be found here. 8.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. The Goldman Sachs Group cut TechTarget from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $52.00 to $27.00 in a research note on Thursday. Raymond James cut their price objective on TechTarget from $55.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, February 10th. StockNews.com assumed coverage on TechTarget in a report on Thursday, March 16th. They issued a “hold” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of TechTarget in a research report on Thursday, February 16th. They set an “underweight” rating and a $41.00 target price on the stock. Finally, Needham & Company LLC lowered their target price on shares of TechTarget from $90.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, TechTarget presently has a consensus rating of “Hold” and a consensus target price of $44.88.

About TechTarget

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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.