TechTarget Inc (TTGT) Chairman Sells $473,000.00 in Stock

TechTarget Inc (NASDAQ:TTGT) Chairman Greg Strakosch sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $18.92, for a total value of $473,000.00. Following the completion of the sale, the chairman now directly owns 612,242 shares in the company, valued at approximately $11,583,618.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Greg Strakosch also recently made the following trade(s):

  • On Friday, September 21st, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $20.16, for a total value of $504,000.00.
  • On Friday, September 7th, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $22.06, for a total value of $551,500.00.
  • On Tuesday, August 28th, Greg Strakosch sold 31,300 shares of TechTarget stock. The shares were sold at an average price of $24.46, for a total value of $765,598.00.
  • On Tuesday, August 21st, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $23.05, for a total value of $576,250.00.
  • On Tuesday, August 7th, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $28.69, for a total value of $717,250.00.
  • On Monday, July 23rd, Greg Strakosch sold 25,000 shares of TechTarget stock. The stock was sold at an average price of $32.44, for a total value of $811,000.00.

Shares of NASDAQ:TTGT opened at $19.40 on Friday. TechTarget Inc has a 1-year low of $11.71 and a 1-year high of $34.47. The company has a market cap of $535.62 million, a PE ratio of 80.83 and a beta of 1.06. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.13.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. TechTarget had a return on equity of 9.77% and a net margin of 10.24%. The company had revenue of $31.47 million for the quarter, compared to analyst estimates of $30.81 million. During the same quarter last year, the firm earned $0.09 EPS. TechTarget’s revenue for the quarter was up 18.0% compared to the same quarter last year. Research analysts expect that TechTarget Inc will post 0.49 EPS for the current year.

Several analysts have recently weighed in on the company. ValuEngine lowered TechTarget from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. BidaskClub raised TechTarget from a “sell” rating to a “hold” rating in a report on Friday. Craig Hallum lowered TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a report on Thursday, August 9th. They noted that the move was a valuation call. Finally, Raymond James assumed coverage on TechTarget in a report on Thursday, September 27th. They set an “outperform” rating and a $26.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. TechTarget presently has an average rating of “Hold” and a consensus target price of $24.17.

Large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of TechTarget by 44.0% during the 2nd quarter. BlackRock Inc. now owns 1,825,752 shares of the information services provider’s stock worth $51,851,000 after buying an additional 557,794 shares during the period. Renaissance Technologies LLC lifted its position in shares of TechTarget by 42.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,198,800 shares of the information services provider’s stock worth $34,046,000 after buying an additional 355,800 shares during the period. Ashford Capital Management Inc. lifted its position in shares of TechTarget by 84.8% during the 2nd quarter. Ashford Capital Management Inc. now owns 685,456 shares of the information services provider’s stock worth $19,467,000 after buying an additional 314,453 shares during the period. Summit Creek Advisors LLC bought a new position in shares of TechTarget during the 3rd quarter worth approximately $6,094,000. Finally, Acadian Asset Management LLC lifted its position in shares of TechTarget by 146.9% during the 2nd quarter. Acadian Asset Management LLC now owns 392,747 shares of the information services provider’s stock worth $11,154,000 after buying an additional 233,663 shares during the period. 59.08% of the stock is currently owned by institutional investors.

About TechTarget

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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