Quantbot Technologies LP Takes $173,000 Position in TechTarget, Inc. (NASDAQ:TTGT)

Quantbot Technologies LP purchased a new position in shares of TechTarget, Inc. (NASDAQ:TTGT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,735 shares of the information services provider’s stock, valued at approximately $173,000.

Other large investors have also bought and sold shares of the company. KBC Group NV grew its holdings in TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock worth $43,000 after acquiring an additional 962 shares during the period. MeadowBrook Investment Advisors LLC grew its stake in shares of TechTarget by 26.4% during the fourth quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock worth $169,000 after purchasing an additional 1,780 shares during the period. Intech Investment Management LLC acquired a new stake in shares of TechTarget during the third quarter worth $257,000. BNP Paribas Financial Markets lifted its stake in TechTarget by 31.7% in the third quarter. BNP Paribas Financial Markets now owns 13,545 shares of the information services provider’s stock valued at $331,000 after buying an additional 3,260 shares during the period. Finally, M&T Bank Corp lifted its stake in TechTarget by 54.0% in the third quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock valued at $795,000 after buying an additional 11,398 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Trading Down 5.3 %

TTGT opened at $14.30 on Monday. The stock has a market capitalization of $418.06 million, a P/E ratio of -34.05, a P/E/G ratio of 113.92 and a beta of 1.05. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget, Inc. has a 12 month low of $13.04 and a 12 month high of $35.11. The firm’s fifty day simple moving average is $15.63 and its 200 day simple moving average is $21.68.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TTGT shares. Lake Street Capital lowered their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. StockNews.com started coverage on shares of TechTarget in a research note on Monday, February 10th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price target on shares of TechTarget in a research report on Tuesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, January 15th. Finally, Craig Hallum reduced their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

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.