TechTarget, Inc. (NASDAQ:TTGT) Short Interest Update

TechTarget, Inc. (NASDAQ:TTGT) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 855,900 shares, an increase of 23.6% from the February 28th total of 692,700 shares. Based on an average trading volume of 238,200 shares, the short-interest ratio is presently 3.6 days. Currently, 7.3% of the company’s stock are short sold.

Institutional Trading of TechTarget

A number of large investors have recently made changes to their positions in the company. KBC Group NV increased its holdings in TechTarget by 79.1% in the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after buying an additional 962 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of TechTarget in the 4th quarter valued at about $103,000. MeadowBrook Investment Advisors LLC raised its position in shares of TechTarget by 26.4% during the 4th quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock worth $169,000 after acquiring an additional 1,780 shares in the last quarter. Quantbot Technologies LP purchased a new stake in TechTarget during the fourth quarter worth approximately $173,000. Finally, Intech Investment Management LLC acquired a new position in TechTarget in the third quarter valued at approximately $257,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 11th. Craig Hallum decreased their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Needham & Company LLC cut their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Monday. Finally, Lake Street Capital decreased their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, TechTarget currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

TechTarget Stock Down 2.0 %

TechTarget stock opened at $12.50 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The firm has a 50 day moving average price of $15.37 and a 200 day moving average price of $21.47. TechTarget has a fifty-two week low of $11.71 and a fifty-two week high of $35.11. The company has a market capitalization of $365.44 million, a PE ratio of -29.76, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05.

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.