GAMMA Investing LLC Purchases 4,920 Shares of TechTarget, Inc. $TTGT

GAMMA Investing LLC lifted its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 4,513.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,029 shares of the information services provider’s stock after acquiring an additional 4,920 shares during the period. GAMMA Investing LLC’s holdings in TechTarget were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TTGT. Trigran Investments Inc. lifted its holdings in shares of 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 acquiring an additional 767,327 shares during the period. Raymond James Financial Inc. increased its position 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. acquired a new position in TechTarget during the 1st quarter worth approximately $3,921,000. Earnest Partners LLC increased its position 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 acquired a new position in TechTarget during the 1st quarter worth approximately $1,566,000. Institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling at TechTarget

In related news, 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 transaction of $50,669.41. Following the transaction, the chief financial officer directly owned 71,519 shares of the company’s stock, valued at $428,398.81. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. S. Flaschen bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $5.97 per share, for a total transaction of $119,400.00. Following the completion of the purchase, the director owned 20,000 shares of the company’s stock, valued at $119,400. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TTGT. 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of TechTarget in a research report on Saturday, September 27th. Wall Street Zen cut shares of TechTarget from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. cut shares of TechTarget from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. Finally, Lake Street Capital lowered their price objective on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.40.

TechTarget Stock Up 2.9%

Shares of NASDAQ TTGT opened at $5.72 on Friday. The firm has a market cap of $408.92 million, a PE ratio of -13.62 and a beta of 0.99. TechTarget, Inc. has a 12-month low of $5.39 and a 12-month high of $33.08. The company’s fifty day simple moving average is $6.26 and its 200 day simple moving average is $7.67. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.18.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.17. The business had revenue of $119.94 million for the quarter, compared to analyst estimates of $106.19 million. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. As a group, sell-side analysts forecast 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.