Renaissance Technologies LLC Trims Stock Holdings in TechTarget, Inc. (NASDAQ:TTGT)

Renaissance Technologies LLC reduced its stake in TechTarget, Inc. (NASDAQ:TTGT) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 493,600 shares of the information services provider’s stock after selling 31,800 shares during the period. Renaissance Technologies LLC owned approximately 1.73% of TechTarget worth $15,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Trigran Investments Inc. increased its stake in TechTarget by 2.1% during the fourth quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock worth $95,050,000 after purchasing an additional 55,125 shares during the period. Dimensional Fund Advisors LP increased its stake in TechTarget by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after purchasing an additional 8,681 shares during the period. Eagle Asset Management Inc. increased its stake in TechTarget by 27.0% during the fourth quarter. Eagle Asset Management Inc. now owns 531,470 shares of the information services provider’s stock worth $18,527,000 after purchasing an additional 112,960 shares during the period. Envestnet Asset Management Inc. increased its stake in TechTarget by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after purchasing an additional 8,212 shares during the period. Finally, Rice Hall James & Associates LLC increased its stake in TechTarget by 21.2% during 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 purchasing an additional 42,374 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

TechTarget Stock Performance

Shares of TTGT opened at $25.14 on Friday. The stock has a 50 day moving average price of $28.02 and a 200 day moving average price of $29.48. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $717.72 million, a price-to-earnings ratio of -100.56, a price-to-earnings-growth ratio of 27.12 and a beta of 1.07. TechTarget, Inc. has a 52-week low of $23.11 and a 52-week high of $41.93.

TechTarget (NASDAQ:TTGT) last announced its quarterly 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. The firm had revenue of $58.91 million during the quarter, compared to the consensus estimate of $58.08 million. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. Research analysts predict that TechTarget, Inc. will post 0.5 EPS for the current fiscal year.

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.