TechTarget (NASDAQ:TTGT) Stock Price Up 4.4%

Shares of TechTarget, Inc. (NASDAQ:TTGT) rose 4.4% during trading on Thursday . The stock traded as high as $72.42 and last traded at $71.56. Approximately 115 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 305,633 shares. The stock had previously closed at $68.56.

TTGT has been the topic of several research reports. Needham & Company LLC initiated coverage on shares of TechTarget in a research report on Thursday, February 25th. They issued a “buy” rating and a $115.00 price target on the stock. Zacks Investment Research lowered shares of TechTarget from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 24th. Raymond James increased their price target on shares of TechTarget from $68.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, February 11th. Cowen initiated coverage on shares of TechTarget in a research report on Monday, March 22nd. They issued a “market perform” rating and a $86.00 price target on the stock. Finally, KeyCorp initiated coverage on shares of TechTarget in a research report on Thursday. They issued an “overweight” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. TechTarget currently has an average rating of “Buy” and an average price target of $76.29.

The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.97 billion, a PE ratio of 108.83 and a beta of 0.97. The firm’s 50 day moving average is $78.54 and its 200-day moving average is $63.59.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, February 10th. The information services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $45.92 million for the quarter, compared to the consensus estimate of $42.74 million. TechTarget had a net margin of 12.90% and a return on equity of 10.81%. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, analysts forecast that TechTarget, Inc. will post 0.81 earnings per share for the current year.

In other TechTarget news, CFO Daniel T. Noreck sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $67.78, for a total transaction of $203,340.00. Following the transaction, the chief financial officer now owns 9,841 shares of the company’s stock, valued at $667,022.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bruce Levenson sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $84.04, for a total transaction of $1,680,800.00. Following the transaction, the director now directly owns 45,173 shares in the company, valued at approximately $3,796,338.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,540 shares of company stock worth $2,383,462. 16.42% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of TTGT. BlackRock Inc. lifted its holdings in shares of TechTarget by 2.6% during the 4th quarter. BlackRock Inc. now owns 3,776,843 shares of the information services provider’s stock valued at $223,249,000 after acquiring an additional 96,148 shares in the last quarter. HighTower Advisors LLC raised its position in TechTarget by 33,423.9% in the fourth quarter. HighTower Advisors LLC now owns 1,653,063 shares of the information services provider’s stock valued at $97,712,000 after purchasing an additional 1,648,132 shares during the period. Next Century Growth Investors LLC lifted its stake in shares of TechTarget by 11.7% during the fourth quarter. Next Century Growth Investors LLC now owns 716,713 shares of the information services provider’s stock worth $42,364,000 after purchasing an additional 75,175 shares in the last quarter. Northern Trust Corp boosted its position in shares of TechTarget by 8.4% in the fourth quarter. Northern Trust Corp now owns 338,833 shares of the information services provider’s stock worth $20,028,000 after buying an additional 26,335 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of TechTarget by 6.2% in the fourth quarter. Bank of New York Mellon Corp now owns 270,903 shares of the information services provider’s stock worth $16,013,000 after buying an additional 15,729 shares during the period. 84.63% of the stock is currently owned by institutional investors and hedge funds.

About TechTarget (NASDAQ:TTGT)

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for enterprise technology companies in North America 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 advertising techniques.

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