TechTarget, Inc. (NASDAQ:TTGT) insider Greg Strakosch sold 20,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $12.02, for a total transaction of $240,400.00. Following the completion of the sale, the insider now owns 1,278,274 shares in the company, valued at $15,364,853.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
TechTarget, Inc. (TTGT) opened at 12.37 on Friday. The stock’s 50 day moving average is $11.63 and its 200 day moving average is $10.13. TechTarget, Inc. has a one year low of $7.85 and a one year high of $12.45. The stock has a market capitalization of $338.95 million, a price-to-earnings ratio of 242.55 and a beta of 1.47.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The company had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $26.26 million. TechTarget had a return on equity of 1.38% and a net margin of 1.36%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. On average, equities analysts forecast that TechTarget, Inc. will post $0.38 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Trigran Investments Inc. boosted its position in TechTarget by 0.7% during the 2nd quarter. Trigran Investments Inc. now owns 2,647,656 shares of the information services provider’s stock worth $27,456,000 after acquiring an additional 19,425 shares during the period. Punch & Associates Investment Management Inc. boosted its position in TechTarget by 1.2% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 994,882 shares of the information services provider’s stock worth $10,317,000 after acquiring an additional 11,735 shares during the period. Vanguard Group Inc. boosted its position in TechTarget by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 653,060 shares of the information services provider’s stock worth $6,772,000 after acquiring an additional 14,583 shares during the period. Dimensional Fund Advisors LP boosted its position in TechTarget by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 620,771 shares of the information services provider’s stock worth $6,438,000 after acquiring an additional 44,102 shares during the period. Finally, TIAA FSB acquired a new stake in TechTarget during the 2nd quarter worth about $2,842,000. Hedge funds and other institutional investors own 56.11% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price (up from $11.00) on shares of TechTarget in a report on Tuesday, October 3rd. Jefferies Group LLC restated a “hold” rating and issued a $11.00 target price on shares of TechTarget in a report on Thursday, September 28th. BidaskClub lowered shares of TechTarget from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, ValuEngine upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. TechTarget has an average rating of “Hold” and a consensus target price of $11.50.
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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