Swiss National Bank Purchases 4,900 Shares of TechTarget, Inc. $TTGT

Swiss National Bank boosted its position in TechTarget, Inc. (NASDAQ:TTGT) by 9.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,400 shares of the information services provider’s stock after purchasing an additional 4,900 shares during the quarter. Swiss National Bank owned approximately 0.19% of TechTarget worth $820,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TTGT. Barclays PLC raised its holdings in TechTarget by 5.6% in the fourth quarter. Barclays PLC now owns 48,477 shares of the information services provider’s stock worth $961,000 after purchasing an additional 2,563 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of TechTarget by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider’s stock worth $15,977,000 after acquiring an additional 11,646 shares during the last quarter. State of Tennessee Department of Treasury grew its stake in shares of 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 worth $239,000 after acquiring an additional 910 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of TechTarget by 48.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,809 shares of the information services provider’s stock worth $373,000 after acquiring an additional 6,126 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of TechTarget by 3.9% during the fourth quarter. Northern Trust Corp now owns 284,170 shares of the information services provider’s stock worth $5,632,000 after acquiring an additional 10,542 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

TechTarget Trading Down 0.8%

TechTarget stock opened at $6.17 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. TechTarget, Inc. has a 12 month low of $5.55 and a 12 month high of $33.08. The stock’s 50 day simple moving average is $6.98 and its two-hundred day simple moving average is $9.38. The firm has a market cap of $441.09 million, a PE ratio of -14.69 and a beta of 0.96.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, August 12th. The information services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.12 by $0.17. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%.The business had revenue of $119.94 million for the quarter, compared to analyst estimates of $106.19 million. Analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In other TechTarget news, CFO Daniel T. Noreck sold 8,459 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $5.99, for a total value of $50,669.41. Following the sale, the chief financial officer owned 71,519 shares in the company, valued at approximately $428,398.81. This represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TTGT. Lake Street Capital dropped 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 reiterated a “buy” rating and issued a $15.00 target price on shares of TechTarget in a research report on Wednesday, July 2nd. Wall Street Zen lowered TechTarget from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. lowered TechTarget from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $18.00 to $8.00 in a research report on Tuesday, June 10th. Finally, Craig Hallum began coverage on TechTarget in a research report on Monday, June 9th. They issued a “buy” rating and a $12.00 target price on the stock. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.40.

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.