S Squared Technology LLC continued to hold its stake in TechTarget, Inc. (NASDAQ:TTGT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,666 shares of the information services provider’s stock at the end of the 2nd quarter. TechTarget comprises about 1.1% of S Squared Technology LLC’s investment portfolio, making the stock its 29th biggest holding. S Squared Technology LLC owned 0.45% of TechTarget worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in TTGT. Ameriprise Financial Inc. acquired a new stake in TechTarget in the first quarter valued at $641,000. Ariel Investments LLC lifted its stake in TechTarget by 6.1% in the first quarter. Ariel Investments LLC now owns 915,788 shares of the information services provider’s stock valued at $8,270,000 after acquiring an additional 52,318 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in TechTarget by 457.3% in the second quarter. JPMorgan Chase & Co. now owns 60,266 shares of the information services provider’s stock valued at $625,000 after acquiring an additional 49,452 shares during the last quarter. Engine Capital Management LLC lifted its stake in TechTarget by 7,889.2% in the first quarter. Engine Capital Management LLC now owns 26,684 shares of the information services provider’s stock valued at $241,000 after acquiring an additional 26,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in TechTarget by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 576,669 shares of the information services provider’s stock valued at $5,207,000 after acquiring an additional 21,785 shares during the last quarter. Hedge funds and other institutional investors own 57.45% of the company’s stock.
A number of analysts have commented on TTGT shares. ValuEngine upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub lowered shares of TechTarget from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of TechTarget from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Saturday, August 19th. Jefferies Group LLC reissued a “buy” rating and issued a $11.00 price objective (up from $10.00) on shares of TechTarget in a research report on Sunday, May 14th. Finally, Craig Hallum raised shares of TechTarget from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. TechTarget presently has a consensus rating of “Hold” and a consensus price target of $10.75.
Shares of TechTarget, Inc. (TTGT) traded up 0.28% during trading on Monday, hitting $10.71. 22,953 shares of the stock traded hands. The stock has a 50 day moving average price of $9.83 and a 200-day moving average price of $9.47. TechTarget, Inc. has a 1-year low of $7.80 and a 1-year high of $10.94. The stock has a market cap of $293.46 million, a price-to-earnings ratio of 210.00 and a beta of 1.44.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.03. The company had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $26.26 million. TechTarget had a return on equity of 1.38% and a net margin of 1.36%. TechTarget’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. Equities analysts forecast that TechTarget, Inc. will post $0.38 EPS for the current year.
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In related news, President Kevin Beam sold 10,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $10.21, for a total value of $102,100.00. Following the transaction, the president now directly owns 498,033 shares of the company’s stock, valued at approximately $5,084,916.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 30.19% of the stock is currently owned by insiders.
TechTarget Company Profile
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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