TechTarget, Inc. (NASDAQ:TTGT) Stake Lifted by Inspire Investing LLC

Inspire Investing LLC increased its stake in TechTarget, Inc. (NASDAQ:TTGT) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,379 shares of the information services provider’s stock after acquiring an additional 469 shares during the period. Inspire Investing LLC’s holdings in TechTarget were worth $355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BOKF NA bought a new stake in TechTarget during the second quarter worth approximately $239,000. Aigen Investment Management LP boosted its holdings in TechTarget by 6.6% during the fourth quarter. Aigen Investment Management LP now owns 7,712 shares of the information services provider’s stock worth $269,000 after buying an additional 476 shares in the last quarter. Riverwater Partners LLC bought a new stake in TechTarget during the second quarter worth approximately $350,000. State Board of Administration of Florida Retirement System boosted its holdings in TechTarget by 37.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after buying an additional 2,790 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in TechTarget by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after buying an additional 959 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

TechTarget Trading Down 1.4 %

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

TechTarget (NASDAQ:TTGT) last released its earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The company had revenue of $58.91 million during the quarter, compared to the consensus estimate of $58.08 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s revenue was up .8% compared to the same quarter last year. Research analysts forecast that TechTarget, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

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

TechTarget Company 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.