TechTarget, Inc. (NASDAQ:TTGT) Shares Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC grew its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,351 shares of the information services provider’s stock after purchasing an additional 1,478 shares during the quarter. Granahan Investment Management LLC owned approximately 0.56% of TechTarget worth $5,647,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in TechTarget by 51.6% in the 1st quarter. Advisors Asset Management Inc. now owns 828 shares of the information services provider’s stock worth $67,000 after purchasing an additional 282 shares in the last quarter. State of Wyoming lifted its position in TechTarget by 121.2% during the fourth quarter. State of Wyoming now owns 1,208 shares of the information services provider’s stock worth $53,000 after buying an additional 662 shares in the last quarter. Captrust Financial Advisors boosted its stake in TechTarget by 70.6% during the first quarter. Captrust Financial Advisors now owns 1,612 shares of the information services provider’s stock worth $131,000 after buying an additional 667 shares during the last quarter. Point72 Middle East FZE purchased a new stake in TechTarget in the 4th quarter valued at $73,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of TechTarget by 65.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,104 shares of the information services provider’s stock worth $125,000 after acquiring an additional 834 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

TechTarget Trading Up 2.9 %

Shares of TTGT stock opened at $31.22 on Monday. TechTarget, Inc. has a fifty-two week low of $28.01 and a fifty-two week high of $68.15. The company has a 50 day moving average price of $30.99 and a 200 day moving average price of $33.39. The stock has a market capitalization of $868.54 million, a P/E ratio of 36.73 and a beta of 0.95. The company has a debt-to-equity ratio of 2.26, a quick ratio of 9.84 and a current ratio of 9.84.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Tuesday, August 8th. The information services provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.10 by $0.07. The business had revenue of $58.43 million during the quarter, compared to the consensus estimate of $57.40 million. TechTarget had a net margin of 9.91% and a return on equity of 17.70%. Equities research analysts predict that TechTarget, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TTGT. Needham & Company LLC dropped their price objective 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. StockNews.com initiated coverage on shares of TechTarget in a research report on Thursday, August 17th. They set a “hold” rating on the stock. The Goldman Sachs Group increased their price objective on TechTarget from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Wednesday, August 9th. Finally, JPMorgan Chase & Co. reduced their target price on TechTarget from $36.00 to $32.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 9th. 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 stock. According to MarketBeat.com, TechTarget has a consensus rating of “Hold” and a consensus price target of $42.25.

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.