US Bancorp DE reduced its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT – Free Report) by 21.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,407 shares of the information services provider’s stock after selling 648 shares during the period. US Bancorp DE’s holdings in TechTarget were worth $87,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of TTGT. Arcadia Investment Management Corp MI purchased a new position in TechTarget during the 4th quarter valued at about $46,000. State of Wyoming lifted its position in TechTarget by 121.2% during the 4th quarter. State of Wyoming now owns 1,208 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 662 shares during the period. Advisors Asset Management Inc. raised its holdings in TechTarget by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 828 shares of the information services provider’s stock worth $67,000 after buying an additional 282 shares during the last quarter. Point72 Middle East FZE purchased a new position in TechTarget in the fourth quarter worth about $73,000. Finally, Amundi raised its holdings in TechTarget by 51.0% in the fourth quarter. Amundi now owns 2,126 shares of the information services provider’s stock worth $98,000 after buying an additional 718 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on TTGT shares. StockNews.com started coverage on shares of TechTarget in a report on Thursday, August 17th. They issued a “hold” rating for the company. Needham & Company LLC decreased their target price on shares of TechTarget from $55.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. JPMorgan Chase & Co. decreased their target price on shares of TechTarget from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Wednesday, August 9th. Finally, The Goldman Sachs Group lifted their target price on shares of TechTarget from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, TechTarget currently has a consensus rating of “Hold” and an average target price of $42.25.
TechTarget Stock Performance
Shares of NASDAQ TTGT opened at $28.75 on Friday. The firm has a 50 day moving average of $31.15 and a 200 day moving average of $33.89. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $799.85 million, a price-to-earnings ratio of 33.82 and a beta of 0.91. TechTarget, Inc. has a 12-month low of $28.01 and a 12-month high of $68.15.
TechTarget (NASDAQ:TTGT – Get Free Report) last announced its earnings results on Tuesday, August 8th. The information services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.07. The company had revenue of $58.43 million during the quarter, compared to analyst estimates of $57.40 million. TechTarget had a net margin of 9.91% and a return on equity of 17.70%. On average, research analysts anticipate that TechTarget, Inc. will post 0.42 earnings per share for the current year.
TechTarget Company 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 provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.
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