Raymond James & Associates Reduces Stock Holdings in TechTarget, Inc. (NASDAQ:TTGT)

Raymond James & Associates lessened its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 14.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,215 shares of the information services provider’s stock after selling 3,345 shares during the quarter. Raymond James & Associates’ holdings in TechTarget were worth $705,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of TechTarget by 16.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock worth $80,000 after purchasing an additional 367 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in TechTarget during the 3rd quarter worth approximately $145,000. Aigen Investment Management LP acquired a new position in TechTarget during the third quarter worth approximately $220,000. Caxton Associates LP lifted its stake in TechTarget by 26.5% in the third quarter. Caxton Associates LP now owns 8,730 shares of the information services provider’s stock valued at $265,000 after buying an additional 1,827 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of TechTarget in the third quarter valued at approximately $323,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling

In other news, President Rebecca Kitchens sold 13,666 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $440,045.20. Following the sale, the president now owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other TechTarget news, COO Steven Niemiec sold 13,608 shares of TechTarget stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Rebecca Kitchens sold 13,666 shares of the stock in a transaction that occurred 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 sale, the president now owns 53,920 shares in the company, valued at $1,736,224. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Analysts Set New Price Targets

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

TechTarget Stock Performance

Shares of TTGT stock opened at $27.27 on Wednesday. The company has a current ratio of 10.04, a quick ratio of 10.04 and a debt-to-equity ratio of 1.84. The stock has a 50 day simple moving average of $30.97 and a 200-day simple moving average of $31.14. The company has a market cap of $778.53 million, a price-to-earnings ratio of 170.44, a price-to-earnings-growth ratio of 8.10 and a beta of 0.94. TechTarget, Inc. has a 12-month low of $23.43 and a 12-month high of $41.93.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $57.29 million during the quarter, compared to analysts’ expectations of $56.73 million. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. On average, equities analysts forecast that TechTarget, Inc. will post 0.62 EPS for the current year.

TechTarget 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'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.