Insider Selling: TechTarget Inc (TTGT) CEO Sells $296,235.00 in Stock

TechTarget Inc (NASDAQ:TTGT) CEO Michael Cotoia sold 14,500 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $20.43, for a total value of $296,235.00. Following the transaction, the chief executive officer now owns 69,310 shares in the company, valued at approximately $1,416,003.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Michael Cotoia also recently made the following trade(s):

  • On Monday, October 1st, Michael Cotoia sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $19.55, for a total value of $488,750.00.
  • On Tuesday, September 4th, Michael Cotoia sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $23.67, for a total value of $591,750.00.
  • On Wednesday, August 29th, Michael Cotoia sold 22,352 shares of TechTarget stock. The shares were sold at an average price of $24.36, for a total value of $544,494.72.

Shares of TTGT stock opened at $16.60 on Friday. TechTarget Inc has a 1-year low of $12.30 and a 1-year high of $34.47. The stock has a market cap of $564.85 million, a P/E ratio of 69.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.09 and a current ratio of 3.09.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, November 7th. The information services provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The company had revenue of $30.74 million for the quarter, compared to the consensus estimate of $31.08 million. During the same period in the previous year, the business earned $0.11 EPS. TechTarget’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that TechTarget Inc will post 0.5 earnings per share for the current fiscal year.

TTGT has been the topic of several research reports. BidaskClub lowered TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Lake Street Capital dropped their price objective on TechTarget from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday. Raymond James began coverage on TechTarget in a research report on Thursday, September 27th. They set an “outperform” rating and a $26.00 price objective on the stock. Craig Hallum downgraded TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Thursday, August 9th. They noted that the move was a valuation call. Finally, ValuEngine downgraded TechTarget from a “buy” rating to a “hold” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $24.67.

A number of hedge funds have recently modified their holdings of TTGT. Wells Fargo & Company MN boosted its position in TechTarget by 51.4% during the first quarter. Wells Fargo & Company MN now owns 48,512 shares of the information services provider’s stock valued at $965,000 after purchasing an additional 16,473 shares in the last quarter. BlackRock Inc. boosted its holdings in TechTarget by 30.4% in the first quarter. BlackRock Inc. now owns 1,267,958 shares of the information services provider’s stock worth $25,207,000 after acquiring an additional 295,581 shares in the last quarter. California Public Employees Retirement System acquired a new stake in TechTarget in the first quarter worth about $347,000. Dimensional Fund Advisors LP boosted its holdings in TechTarget by 23.0% in the first quarter. Dimensional Fund Advisors LP now owns 825,252 shares of the information services provider’s stock worth $16,406,000 after acquiring an additional 154,516 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in TechTarget in the second quarter worth about $378,000. 61.72% of the stock is currently owned by institutional investors.

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TechTarget Company Profile

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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