Rice Hall James & Associates LLC raised its position in TechTarget, Inc. (NASDAQ:TTGT – Free Report) by 34.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,745,806 shares of the information services provider’s stock after buying an additional 446,280 shares during the quarter. Rice Hall James & Associates LLC’s holdings in TechTarget were worth $9,427,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Trigran Investments Inc. increased its position in shares of TechTarget by 0.8% in the 3rd quarter. Trigran Investments Inc. now owns 5,013,868 shares of the information services provider’s stock valued at $29,131,000 after purchasing an additional 39,434 shares during the last quarter. Millennium Management LLC increased its position in shares of TechTarget by 1,881.8% in the 3rd quarter. Millennium Management LLC now owns 1,242,193 shares of the information services provider’s stock valued at $7,217,000 after purchasing an additional 1,179,513 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of TechTarget by 39.4% in the 4th quarter. Impax Asset Management Group plc now owns 1,238,887 shares of the information services provider’s stock valued at $6,690,000 after purchasing an additional 350,000 shares during the last quarter. EVR Research LP purchased a new stake in shares of TechTarget in the 3rd quarter valued at approximately $5,868,000. Finally, Geode Capital Management LLC increased its position in shares of TechTarget by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 742,895 shares of the information services provider’s stock valued at $4,012,000 after purchasing an additional 25,468 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on TTGT. Lake Street Capital dropped their price objective on shares of TechTarget from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of TechTarget in a research report on Monday, April 20th. Wall Street Zen upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Needham & Company LLC restated a “buy” rating on shares of TechTarget in a report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.50.
TechTarget Trading Up 0.8%
Shares of TechTarget stock opened at $3.65 on Tuesday. The company has a fifty day simple moving average of $4.74 and a 200-day simple moving average of $4.78. TechTarget, Inc. has a 12-month low of $3.41 and a 12-month high of $9.00. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.23. The stock has a market cap of $263.90 million, a price-to-earnings ratio of -0.47 and a beta of 1.13.
TechTarget (NASDAQ:TTGT – Get Free Report) last issued its earnings results on Thursday, May 7th. The information services provider reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.59). TechTarget had a negative net margin of 113.65% and a positive return on equity of 5.19%. The company had revenue of $106.05 million during the quarter, compared to analyst estimates of $104.93 million.
About TechTarget
TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.
The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.
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