Principal Financial Group Inc. Lowers Stock Position in TechTarget, Inc. (NASDAQ:TTGT)

Principal Financial Group Inc. cut its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 12.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 121,835 shares of the information services provider’s stock after selling 17,176 shares during the quarter. Principal Financial Group Inc. owned approximately 0.42% of TechTarget worth $2,979,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TTGT. BOKF NA bought a new stake in TechTarget during the second quarter worth $239,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of TechTarget during the 3rd quarter valued at $245,000. Intech Investment Management LLC bought a new stake in shares of TechTarget during the 3rd quarter worth $257,000. Quest Partners LLC purchased a new position in shares of TechTarget in the 3rd quarter worth about $272,000. Finally, SG Americas Securities LLC bought a new position in TechTarget during the third quarter valued at about $307,000. 93.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

TTGT has been the topic of a number of research analyst reports. Craig Hallum boosted their target price on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. Lake Street Capital reduced their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. KeyCorp lowered their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, StockNews.com assumed coverage on TechTarget in a research report on Wednesday. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TechTarget presently has an average rating of “Moderate Buy” and an average price target of $36.14.

TechTarget Stock Up 3.0 %

Shares of NASDAQ:TTGT opened at $19.98 on Friday. The firm has a fifty day moving average price of $26.01 and a two-hundred day moving average price of $27.32. The company has a market cap of $584.12 million, a price-to-earnings ratio of -47.57, a PEG ratio of 12.04 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. TechTarget, Inc. has a one year low of $18.26 and a one year high of $33.08.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The business 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%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. Analysts anticipate that TechTarget, Inc. will post 0.55 EPS for the current fiscal 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.