TechTarget, Inc. (NASDAQ:TTGT) Position Lowered by Algert Global LLC

Algert Global LLC decreased its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 85.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,742 shares of the information services provider’s stock after selling 40,581 shares during the period. Algert Global LLC’s holdings in TechTarget were worth $210,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of TechTarget by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after purchasing an additional 8,681 shares during the period. Earnest Partners LLC increased its stake in shares of TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 29,375 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of TechTarget by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock valued at $9,974,000 after acquiring an additional 8,212 shares during the period. Rice Hall James & Associates LLC grew its position in TechTarget by 21.2% in the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock worth $7,560,000 after buying an additional 42,374 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in TechTarget by 6.8% in the first quarter. Principal Financial Group Inc. now owns 143,459 shares of the information services provider’s stock worth $4,746,000 after buying an additional 9,166 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TTGT. Raymond James decreased their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Needham & Company LLC reduced their price objective on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, KeyCorp reduced their price objective on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $23.15 on Friday. The firm has a 50 day moving average of $25.60 and a 200-day moving average of $28.76. The stock has a market capitalization of $676.91 million, a PE ratio of -92.60, a PEG ratio of 26.51 and a beta of 1.06. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. TechTarget, Inc. has a 12 month low of $22.82 and a 12 month high of $41.93.

TechTarget (NASDAQ:TTGT) last released its earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The company had revenue of $58.91 million for the quarter, compared to the consensus estimate of $58.08 million. During the same quarter in the previous year, the company earned $0.17 EPS. TechTarget’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that TechTarget, Inc. will post 0.5 EPS for the current fiscal year.

About TechTarget

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.