Voya Investment Management LLC Purchases Shares of 19,155 TechTarget, Inc. $TTGT

Voya Investment Management LLC purchased a new stake in TechTarget, Inc. (NASDAQ:TTGT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,155 shares of the information services provider’s stock, valued at approximately $284,000. Voya Investment Management LLC owned 0.07% of TechTarget at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Trigran Investments Inc. lifted its position in TechTarget by 20.4% during the 1st quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider’s stock worth $67,042,000 after buying an additional 767,327 shares in the last quarter. Raymond James Financial Inc. increased its stake in TechTarget by 1,840.5% during the 1st quarter. Raymond James Financial Inc. now owns 461,691 shares of the information services provider’s stock worth $6,838,000 after purchasing an additional 437,899 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in TechTarget during the 1st quarter worth approximately $3,921,000. Earnest Partners LLC increased its stake in TechTarget by 41.3% during the 1st quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider’s stock worth $10,166,000 after purchasing an additional 200,495 shares in the last quarter. Finally, Nuveen LLC bought a new stake in TechTarget during the 1st quarter worth approximately $1,566,000. Institutional investors own 93.52% of the company’s stock.

TechTarget Stock Performance

Shares of TTGT stock opened at $5.68 on Monday. The business’s 50 day simple moving average is $6.50 and its 200 day simple moving average is $7.91. TechTarget, Inc. has a one year low of $5.39 and a one year high of $33.08. The stock has a market capitalization of $406.06 million, a PE ratio of -13.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.96.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, August 12th. The information services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.12 by $0.17. The business had revenue of $119.94 million for the quarter, compared to analysts’ expectations of $106.19 million. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%. As a group, research analysts forecast that TechTarget, Inc. will post -0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director David J. S. Flaschen purchased 20,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $5.97 per share, with a total value of $119,400.00. Following the transaction, the director owned 20,000 shares of the company’s stock, valued at $119,400. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel T. Noreck sold 8,459 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $5.99, for a total value of $50,669.41. Following the completion of the sale, the chief financial officer directly owned 71,519 shares of the company’s stock, valued at $428,398.81. The trade was a 10.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

TechTarget Company 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.