Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in TechTarget, Inc. (NASDAQ:TTGT)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 46.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,564 shares of the information services provider’s stock after selling 6,470 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TechTarget were worth $264,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Trigran Investments Inc. boosted its holdings in TechTarget by 49.5% during the third quarter. Trigran Investments Inc. now owns 2,671,510 shares of the information services provider’s stock worth $81,107,000 after purchasing an additional 884,295 shares during the last quarter. Kent Lake Capital LLC purchased a new position in shares of TechTarget in the 3rd quarter worth approximately $6,831,000. Envestnet Asset Management Inc. grew its holdings in shares of TechTarget by 152.7% in the third quarter. Envestnet Asset Management Inc. now owns 254,476 shares of the information services provider’s stock valued at $7,726,000 after acquiring an additional 153,761 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of TechTarget by 160.2% during the third quarter. Assenagon Asset Management S.A. now owns 202,105 shares of the information services provider’s stock valued at $6,136,000 after acquiring an additional 124,433 shares during the last quarter. Finally, Algert Global LLC bought a new stake in TechTarget during the third quarter worth $2,518,000. Institutional investors own 93.52% of the company’s stock.

Insider Activity at TechTarget

In related news, COO Steven Niemiec sold 13,608 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the sale, the chief operating officer now directly owns 40,755 shares in the company, valued at approximately $1,312,311. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Rebecca Kitchens sold 13,666 shares of the company’s stock in a transaction dated 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 directly owns 53,920 shares in the company, valued at $1,736,224. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the sale, the chief operating officer now owns 40,755 shares in the company, valued at $1,312,311. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on TTGT shares. KeyCorp reduced their price objective on TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. 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 issued a $50.00 price objective on shares of TechTarget in a research report on Thursday, February 8th. UBS Group raised shares of TechTarget from a “neutral” rating to a “buy” rating and increased their target price for the company from $31.00 to $45.00 in a research report on Wednesday, January 31st. Finally, Raymond James raised their price target on shares of TechTarget from $31.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 12th. Two 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.33.

TechTarget Trading Down 2.7 %

Shares of TechTarget stock opened at $28.00 on Monday. TechTarget, Inc. has a 52-week low of $23.43 and a 52-week high of $41.93. The stock’s 50-day simple moving average is $30.24 and its 200 day simple moving average is $31.13. The stock has a market capitalization of $799.40 million, a P/E ratio of 175.01, a P/E/G ratio of 8.35 and a beta of 0.99. The company has a debt-to-equity ratio of 1.84, a quick ratio of 10.04 and a current ratio of 10.04.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. The business had revenue of $57.29 million for the quarter, compared to analysts’ expectations of $56.73 million. As a group, research analysts anticipate that TechTarget, Inc. will post 0.62 EPS 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'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.