Principal Financial Group Inc. Acquires 7,105 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Principal Financial Group Inc. grew its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 5.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,517 shares of the information services provider’s stock after purchasing an additional 7,105 shares during the quarter. Principal Financial Group Inc. owned about 0.46% of TechTarget worth $2,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in TechTarget during the fourth quarter valued at approximately $103,000. Quantbot Technologies LP bought a new stake in TechTarget during the fourth quarter valued at approximately $173,000. State of Tennessee Department of Treasury lifted its position in TechTarget by 8.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock valued at $239,000 after purchasing an additional 910 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in TechTarget by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 698 shares during the last quarter. Finally, First Hawaiian Bank bought a new stake in TechTarget during the first quarter valued at approximately $331,000. Institutional investors own 93.52% of the company’s stock.

TechTarget Stock Down 10.5%

Shares of NASDAQ TTGT opened at $6.94 on Friday. The firm’s fifty day moving average is $7.43 and its 200 day moving average is $11.52. The company has a market cap of $496.14 million, a price-to-earnings ratio of -16.52 and a beta of 1.02. TechTarget, Inc. has a 52 week low of $6.49 and a 52 week high of $33.96.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Monday, July 14th. The information services provider reported ($2.24) earnings per share (EPS) for the quarter. The company had revenue of $103.89 million for the quarter. TechTarget had a negative net margin of 193.29% and a negative return on equity of 125.41%. Equities research analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on TTGT. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of TechTarget in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Saturday, April 26th. JPMorgan Chase & Co. downgraded shares of TechTarget from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $18.00 to $8.00 in a research note on Tuesday, June 10th. Lake Street Capital decreased their target price on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Finally, Craig Hallum began coverage on shares of TechTarget in a research note on Monday, June 9th. They issued a “buy” rating and a $12.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.33.

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.