TechTarget Inc. (NASDAQ:TTGT) insider Don Hawk sold 20,000 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $8.17, for a total transaction of $163,400.00. Following the completion of the transaction, the insider now owns 374,020 shares in the company, valued at $3,055,743.40. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of TechTarget Inc. (NASDAQ:TTGT) opened at 8.05 on Tuesday. The company’s 50-day moving average is $8.08 and its 200-day moving average is $8.01. The firm has a market cap of $219.11 million, a P/E ratio of 42.15 and a beta of 1.98. TechTarget Inc. has a 52-week low of $5.98 and a 52-week high of $9.60.
TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $29.17 million for the quarter, compared to analyst estimates of $29.65 million. TechTarget had a return on equity of 4.59% and a net margin of 5.65%. TechTarget’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. Equities research analysts forecast that TechTarget Inc. will post $0.29 earnings per share for the current fiscal year.
A number of research analysts have issued reports on TTGT shares. Jefferies Group restated a “buy” rating and issued a $9.00 target price on shares of TechTarget in a report on Tuesday, September 6th. Sidoti started coverage on shares of TechTarget in a report on Wednesday, July 20th. They issued a “buy” rating and a $12.00 target price on the stock. Craig Hallum downgraded shares of TechTarget from a “buy” rating to a “hold” rating and dropped their price objective for the company from $11.50 to $9.00 in a research note on Wednesday, August 10th. Zacks Investment Research downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of TechTarget in a research note on Monday, June 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $10.20.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. purchased a new position in TechTarget during the second quarter worth about $111,000. Allianz Asset Management AG raised its position in TechTarget by 2.7% in the second quarter. Allianz Asset Management AG now owns 341,566 shares of the company’s stock worth $2,767,000 after buying an additional 9,065 shares during the last quarter. Spark Investment Management LLC raised its position in TechTarget by 157.8% in the second quarter. Spark Investment Management LLC now owns 41,500 shares of the company’s stock worth $336,000 after buying an additional 25,400 shares during the last quarter. Trigran Investments Inc. raised its position in TechTarget by 3.5% in the second quarter. Trigran Investments Inc. now owns 2,628,231 shares of the company’s stock worth $21,289,000 after buying an additional 88,281 shares during the last quarter. Finally, Nine Ten Capital Management LLC purchased a new position in TechTarget during the second quarter worth about $22,761,000. 55.61% of the stock is currently owned by hedge funds and other institutional investors.
TechTarget Company Profile
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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