American International Group Inc. raised its position in TechTarget Inc (NASDAQ:TTGT) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,982 shares of the information services provider’s stock after purchasing an additional 2,501 shares during the period. American International Group Inc.’s holdings in TechTarget were worth $195,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in TTGT. Geode Capital Management LLC grew its position in shares of TechTarget by 18.8% during the fourth quarter. Geode Capital Management LLC now owns 261,024 shares of the information services provider’s stock worth $3,187,000 after buying an additional 41,329 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in TechTarget by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,011,703 shares of the information services provider’s stock valued at $12,353,000 after acquiring an additional 3,586 shares in the last quarter. United Services Automobile Association boosted its stake in TechTarget by 57.0% during the 4th quarter. United Services Automobile Association now owns 128,818 shares of the information services provider’s stock valued at $1,573,000 after acquiring an additional 46,743 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in TechTarget by 802.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 28,141 shares of the information services provider’s stock valued at $318,000 after acquiring an additional 25,024 shares during the last quarter. Finally, Sapphire Star Partners LP grew its holdings in TechTarget by 138.5% during the 4th quarter. Sapphire Star Partners LP now owns 45,683 shares of the information services provider’s stock worth $558,000 after acquiring an additional 26,525 shares in the last quarter. Institutional investors own 75.48% of the company’s stock.
In other news, Director Bruce Levenson sold 29,319 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $15.86, for a total transaction of $464,999.34. Following the sale, the director now directly owns 42,987 shares in the company, valued at approximately $681,773.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Greg Strakosch sold 95,982 shares of the stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $14.01, for a total value of $1,344,707.82. Following the sale, the insider now owns 437,242 shares in the company, valued at $6,125,760.42. The disclosure for this sale can be found here. Insiders have sold 211,151 shares of company stock worth $3,153,932 over the last three months. 27.14% of the stock is owned by corporate insiders.
Several equities research analysts have recently weighed in on TTGT shares. Zacks Investment Research downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. ValuEngine raised shares of TechTarget from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Finally, BidaskClub upgraded TechTarget from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.00.
Shares of NASDAQ TTGT opened at $16.92 on Friday. TechTarget Inc has a twelve month low of $11.12 and a twelve month high of $34.47. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $469.92 million, a PE ratio of 37.60 and a beta of 1.08.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, February 6th. The information services provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. TechTarget had a net margin of 10.68% and a return on equity of 10.06%. The firm had revenue of $31.82 million during the quarter, compared to the consensus estimate of $31.37 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts forecast that TechTarget Inc will post 0.61 EPS for the current year.
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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