Riverwater Partners LLC Reduces Stake in TechTarget, Inc. (NASDAQ:TTGT)

Riverwater Partners LLC cut its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 13.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,686 shares of the information services provider’s stock after selling 1,557 shares during the period. Riverwater Partners LLC’s holdings in TechTarget were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after acquiring an additional 430 shares during the period. Texas Permanent School Fund Corp increased its position in shares of TechTarget by 2.1% during the first quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock worth $749,000 after acquiring an additional 456 shares during the period. Inspire Investing LLC raised its stake in shares of TechTarget by 4.3% during the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after acquiring an additional 469 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of TechTarget by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock valued at $381,000 after purchasing an additional 959 shares during the period. Finally, Swiss National Bank grew its position in shares of TechTarget by 2.2% during the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock worth $1,671,000 after buying an additional 1,100 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

TechTarget Stock Up 0.5 %

TTGT stock opened at $29.43 on Friday. The firm has a 50 day moving average of $25.57 and a 200 day moving average of $28.46. The stock has a market capitalization of $860.53 million, a PE ratio of -98.10, a price-to-earnings-growth ratio of 32.70 and a beta of 1.06. TechTarget, Inc. has a 52 week low of $22.82 and a 52 week high of $41.93. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The business 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 business earned $0.17 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that TechTarget, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Craig Hallum raised shares of TechTarget from a “hold” rating to a “buy” rating and raised their target price for the company from $34.00 to $36.00 in a research report on Tuesday, October 15th. Raymond James dropped their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. KeyCorp cut their target price on TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Finally, 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

TechTarget Profile

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.