Millennium Management LLC Trims Holdings in TechTarget, Inc. (NASDAQ:TTGT)

Millennium Management LLC reduced its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 38.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,044 shares of the information services provider’s stock after selling 6,232 shares during the quarter. Millennium Management LLC’s holdings in TechTarget were worth $199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of TechTarget by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock valued at $295,000 after buying an additional 698 shares during the last quarter. LMR Partners LLP raised its position in shares of TechTarget by 132.2% during the 4th quarter. LMR Partners LLP now owns 50,000 shares of the information services provider’s stock valued at $991,000 after acquiring an additional 28,471 shares in the last quarter. Deutsche Bank AG raised its position in shares of TechTarget by 49.4% during the 4th quarter. Deutsche Bank AG now owns 24,063 shares of the information services provider’s stock valued at $477,000 after acquiring an additional 7,959 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of TechTarget by 3.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 22,199 shares of the information services provider’s stock valued at $440,000 after acquiring an additional 747 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of TechTarget by 6.8% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 296,109 shares of the information services provider’s stock valued at $5,869,000 after acquiring an additional 18,827 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TTGT shares. Wall Street Zen raised TechTarget from a “sell” rating to a “hold” rating in a research report on Saturday, April 26th. Craig Hallum started coverage on TechTarget in a research report on Monday. They set a “buy” rating and a $12.00 price target on the stock. JPMorgan Chase & Co. lowered TechTarget from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $18.00 to $8.00 in a research report on Tuesday. Lake Street Capital dropped their price target on TechTarget from $24.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC dropped their price target on TechTarget from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.67.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $7.22 on Friday. TechTarget, Inc. has a 1-year low of $6.80 and a 1-year high of $35.11. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The business’s fifty day moving average price is $7.95 and its two-hundred day moving average price is $14.62. The firm has a market capitalization of $211.08 million, a PE ratio of -17.19, a P/E/G ratio of 113.92 and a beta of 1.05.

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.