TechTarget, Inc. (NASDAQ:TTGT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in TechTarget, Inc. (NASDAQ:TTGT) by 18.4% during the fourth quarter, HoldingsChannel reports. The firm owned 10,822 shares of the information services provider’s stock after selling 2,434 shares during the period. New York State Teachers Retirement System’s holdings in TechTarget were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Guggenheim Capital LLC lifted its stake in TechTarget by 5.3% in the 1st quarter. Guggenheim Capital LLC now owns 3,054 shares of the information services provider’s stock worth $248,000 after purchasing an additional 153 shares in the last quarter. Baird Financial Group Inc. lifted its stake in TechTarget by 1.1% in the 4th quarter. Baird Financial Group Inc. now owns 25,242 shares of the information services provider’s stock worth $1,112,000 after purchasing an additional 276 shares in the last quarter. 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. PNC Financial Services Group Inc. raised its position in shares of TechTarget by 16.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock valued at $80,000 after buying an additional 367 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of TechTarget by 5.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 8,815 shares of the information services provider’s stock valued at $274,000 after buying an additional 476 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Stock Down 0.7 %

Shares of NASDAQ TTGT opened at $27.25 on Friday. The firm has a market cap of $777.91 million, a price-to-earnings ratio of 170.31, a PEG ratio of 8.31 and a beta of 0.94. The company has a quick ratio of 10.04, a current ratio of 10.04 and a debt-to-equity ratio of 1.84. TechTarget, Inc. has a 52-week low of $23.43 and a 52-week high of $41.93. The business’s 50 day moving average is $31.39 and its two-hundred day moving average is $31.17.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $57.29 million during the quarter, compared to the consensus estimate of $56.73 million. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. Research analysts predict that TechTarget, Inc. will post 0.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TTGT shares. TheStreet lowered shares of TechTarget from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of TechTarget in a research report on Thursday, February 8th. KeyCorp reduced their price target on shares of TechTarget from $58.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. UBS Group raised shares of TechTarget from a “neutral” rating to a “buy” rating and lifted their price target for the company from $31.00 to $45.00 in a research report on Wednesday, January 31st. Finally, Raymond James boosted their target price on TechTarget from $31.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.33.

Insiders Place Their Bets

In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the transaction, the chief operating officer now owns 40,755 shares in the company, valued at $1,312,311. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, President Rebecca Kitchens sold 13,666 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $440,045.20. Following the completion of the transaction, the president now owns 53,920 shares in the company, valued at $1,736,224. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Steven Niemiec sold 13,608 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the transaction, the chief operating officer now owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

About TechTarget

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's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.