Geode Capital Management LLC Raises Stock Holdings in TechTarget, Inc. (NASDAQ:TTGT)

Geode Capital Management LLC lifted its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 611,513 shares of the information services provider’s stock after acquiring an additional 1,602 shares during the period. Geode Capital Management LLC owned 2.09% of TechTarget worth $14,955,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Earnest Partners LLC increased its stake in TechTarget by 6.3% in the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 29,375 shares during the period. LMR Partners LLP purchased a new position in TechTarget during the third quarter worth about $526,000. Impax Asset Management Group plc boosted its stake in shares of TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 70,000 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in TechTarget by 152.7% during the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after acquiring an additional 96,896 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in shares of TechTarget by 19.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock worth $12,545,000 after purchasing an additional 82,626 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TTGT has been the topic of a number of research analyst reports. Craig Hallum boosted their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp dropped their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research note on Wednesday, November 13th. Finally, StockNews.com started coverage on shares of TechTarget in a research note on Tuesday, December 24th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Up 3.1 %

Shares of TTGT opened at $19.48 on Monday. The company’s fifty day moving average is $26.97 and its two-hundred day moving average is $27.66. TechTarget, Inc. has a fifty-two week low of $18.26 and a fifty-two week high of $33.08. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a market cap of $569.50 million, a PE ratio of -46.38, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. TechTarget’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. Analysts forecast that TechTarget, Inc. will post 0.55 earnings per share for the current year.

About TechTarget

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.