Navellier & Associates Inc grew its holdings in shares of TechTarget Inc (NASDAQ:TTGT) by 76.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,129 shares of the information services provider’s stock after acquiring an additional 16,108 shares during the period. Navellier & Associates Inc’s holdings in TechTarget were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of TTGT. Wells Fargo & Company MN raised its position in TechTarget by 67.0% in the fourth quarter. Wells Fargo & Company MN now owns 32,039 shares of the information services provider’s stock worth $446,000 after acquiring an additional 12,852 shares in the last quarter. BlackRock Inc. raised its position in TechTarget by 1.6% in the fourth quarter. BlackRock Inc. now owns 972,377 shares of the information services provider’s stock worth $13,535,000 after acquiring an additional 15,502 shares in the last quarter. Millennium Management LLC increased its stake in TechTarget by 325.0% in the 4th quarter. Millennium Management LLC now owns 127,801 shares of the information services provider’s stock worth $1,779,000 after purchasing an additional 97,731 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in TechTarget in the 4th quarter worth about $137,000. Finally, Mackay Shields LLC purchased a new position in TechTarget in the 1st quarter worth about $708,000. 57.96% of the stock is owned by hedge funds and other institutional investors.
Shares of TechTarget opened at $24.43 on Friday, according to MarketBeat. The stock has a market capitalization of $665.25 million, a P/E ratio of 101.79, a P/E/G ratio of 2.62 and a beta of 1.29. TechTarget Inc has a 1-year low of $9.11 and a 1-year high of $34.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.12 and a current ratio of 3.09.
In other TechTarget news, Director Leonard P. Forman sold 63,862 shares of TechTarget stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $1,506,504.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Kevin Beam sold 10,000 shares of TechTarget stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $27.99, for a total value of $279,900.00. Following the transaction, the president now directly owns 381,808 shares in the company, valued at approximately $10,686,805.92. The disclosure for this sale can be found here. Insiders sold a total of 471,562 shares of company stock worth $12,745,991 in the last three months. 27.14% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on the company. Craig Hallum cut TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research note on Thursday. They noted that the move was a valuation call. BidaskClub cut TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research cut TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Lake Street Capital set a $23.00 price target on TechTarget and gave the stock a “buy” rating in a research note on Friday, May 11th. Finally, Needham & Company LLC lifted their price target on TechTarget from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, May 10th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $23.80.
TechTarget Company Profile
TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, 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 marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.
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