Inspire Investing LLC Makes New Investment in TechTarget, Inc. $TTGT

Inspire Investing LLC acquired a new position in shares of TechTarget, Inc. (NASDAQ:TTGT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 23,596 shares of the information services provider’s stock, valued at approximately $349,000. Inspire Investing LLC owned 0.08% of TechTarget at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in shares of TechTarget by 3.9% during the 4th quarter. Northern Trust Corp now owns 284,170 shares of the information services provider’s stock worth $5,632,000 after purchasing an additional 10,542 shares in the last quarter. Deutsche Bank AG grew its holdings 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 worth $477,000 after purchasing an additional 7,959 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $295,000 after purchasing an additional 698 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of TechTarget by 30.3% during the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock worth $19,380,000 after purchasing an additional 227,459 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of TechTarget during the 4th quarter worth $411,000. Institutional investors own 93.52% of the company’s stock.

Insider Activity at TechTarget

In other news, CFO Daniel T. Noreck sold 8,459 shares of TechTarget stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $5.99, for a total transaction of $50,669.41. Following the sale, the chief financial officer directly owned 71,519 shares of the company’s stock, valued at approximately $428,398.81. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered TechTarget from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $18.00 to $8.00 in a report on Tuesday, June 10th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of TechTarget in a report on Wednesday, July 2nd. Craig Hallum initiated coverage on TechTarget in a research note on Monday, June 9th. They issued a “buy” rating and a $12.00 price objective on the stock. Lake Street Capital reduced their price objective on TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Finally, Wall Street Zen lowered TechTarget from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, TechTarget presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.40.

TechTarget Stock Performance

Shares of TTGT stock opened at $5.97 on Monday. The business’s 50-day moving average price is $6.65 and its 200-day moving average price is $8.45. TechTarget, Inc. has a 12 month low of $5.39 and a 12 month high of $33.08. The firm has a market capitalization of $426.79 million, a price-to-earnings ratio of -14.21 and a beta of 0.93. 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 (NASDAQ:TTGT) last announced its quarterly earnings results on Tuesday, August 12th. The information services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $119.94 million for the quarter, compared to analyst estimates of $106.19 million. Equities research analysts forecast that TechTarget, Inc. will post -0.46 EPS for the current year.

TechTarget 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.