Avantax Advisory Services Inc. Acquires 18,901 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Avantax Advisory Services Inc. lifted its holdings in TechTarget, Inc. (NASDAQ:TTGT) by 54.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,313 shares of the information services provider’s stock after purchasing an additional 18,901 shares during the period. Avantax Advisory Services Inc. owned 0.18% of TechTarget worth $790,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TTGT. KLP Kapitalforvaltning AS bought a new position in shares of TechTarget in the fourth quarter worth about $103,000. Louisiana State Employees Retirement System bought a new position in shares of TechTarget in the first quarter worth about $190,000. State of Tennessee Department of Treasury increased its stake in shares of TechTarget by 8.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock worth $239,000 after purchasing an additional 910 shares during the period. Allianz Asset Management GmbH bought a new position in shares of TechTarget in the first quarter worth about $246,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of TechTarget by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock worth $295,000 after purchasing an additional 698 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Lake Street Capital lowered their price target on TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Needham & Company LLC restated 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 upgraded TechTarget from a “sell” rating to a “hold” rating in a research note on Saturday, April 26th. JPMorgan Chase & Co. lowered TechTarget from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $18.00 to $8.00 in a research note on Tuesday, June 10th. Finally, Craig Hallum assumed coverage on TechTarget in a research note on Monday, June 9th. They set a “buy” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.33.

TechTarget Trading Down 5.9%

TTGT stock opened at $6.81 on Monday. TechTarget, Inc. has a 1-year low of $6.49 and a 1-year high of $33.08. The firm has a market cap of $486.85 million, a P/E ratio of -16.21 and a beta of 0.96. The business’s 50 day moving average is $7.36 and its 200-day moving average is $10.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Monday, July 14th. The information services provider reported ($2.24) earnings per share for the quarter. TechTarget had a negative net margin of 188.03% and a negative return on equity of 31.98%. The company had revenue of $103.89 million during the quarter. Equities analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal 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.