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.
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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