Allianz Asset Management GmbH Takes $246,000 Position in TechTarget, Inc. (NASDAQ:TTGT)

Allianz Asset Management GmbH bought a new stake in TechTarget, Inc. (NASDAQ:TTGT) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,600 shares of the information services provider’s stock, valued at approximately $246,000. Allianz Asset Management GmbH owned approximately 0.06% of TechTarget as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TTGT. Harbor Capital Advisors Inc. acquired a new stake in shares of TechTarget in the first quarter valued at about $3,921,000. Royal Bank of Canada grew its stake in shares of TechTarget by 30.3% in the fourth quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock valued at $19,380,000 after buying an additional 227,459 shares in the last quarter. Advisory Research Inc. acquired a new stake in shares of TechTarget in the fourth quarter valued at about $2,364,000. Envestnet Asset Management Inc. grew its stake in shares of TechTarget by 35.1% in the first quarter. Envestnet Asset Management Inc. now owns 395,134 shares of the information services provider’s stock valued at $5,852,000 after buying an additional 102,716 shares in the last quarter. Finally, Impax Asset Management Group plc grew its stake in shares of TechTarget by 23.5% in the first quarter. Impax Asset Management Group plc now owns 526,387 shares of the information services provider’s stock valued at $7,796,000 after buying an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

TTGT has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered TechTarget from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $18.00 to $8.00 in a research note on Tuesday, June 10th. Lake Street Capital reduced their price target on TechTarget from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. Craig Hallum assumed coverage on TechTarget in a research note on Monday, June 9th. They set a “buy” rating and a $12.00 price objective for the company. Wall Street Zen upgraded TechTarget from a “sell” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of TechTarget in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.33.

TechTarget Trading Down 5.9%

NASDAQ:TTGT opened at $6.81 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $7.36 and its two-hundred day moving average is $10.67. TechTarget, Inc. has a 52 week low of $6.49 and a 52 week high of $33.08. The company has a market cap of $486.85 million, a PE ratio of -16.21 and a beta of 0.96.

TechTarget (NASDAQ:TTGT) last released its earnings results on Monday, July 14th. The information services provider reported ($2.24) EPS for the quarter. TechTarget had a negative return on equity of 31.98% and a negative net margin of 188.03%. The firm had revenue of $103.89 million for the quarter. On average, analysts predict that TechTarget, Inc. will post -0.46 EPS for the current year.

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.