Ariel Investments LLC lessened its stake in shares of TechTarget Inc (NASDAQ:TTGT) by 15.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 730,560 shares of the information services provider’s stock after selling 130,207 shares during the period. Ariel Investments LLC owned 2.66% of TechTarget worth $10,169,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in TechTarget by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock worth $115,000 after acquiring an additional 275 shares during the period. Nationwide Fund Advisors increased its stake in TechTarget by 12.6% during the 2nd quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock worth $131,000 after acquiring an additional 1,418 shares during the period. Ramsey Quantitative Systems bought a new position in TechTarget during the 4th quarter worth $161,000. Cigna Investments Inc. New bought a new position in TechTarget during the 4th quarter worth $176,000. Finally, Goldman Sachs Group Inc. increased its stake in TechTarget by 14.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 17,754 shares of the information services provider’s stock worth $184,000 after acquiring an additional 2,303 shares during the period. Hedge funds and other institutional investors own 56.25% of the company’s stock.
A number of equities analysts have commented on the company. Zacks Investment Research lowered TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Lake Street Capital restated a “buy” rating and set a $18.00 price objective (up previously from $14.00) on shares of TechTarget in a research note on Thursday, February 8th. BidaskClub lowered TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Needham & Company LLC restated a “buy” rating and set a $17.00 price objective (up previously from $14.00) on shares of TechTarget in a research note on Friday, January 12th. Finally, ValuEngine upgraded TechTarget from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $16.50.
TechTarget Inc (NASDAQ TTGT) opened at $19.25 on Friday. TechTarget Inc has a 52 week low of $8.75 and a 52 week high of $19.46. The company has a quick ratio of 2.53, a current ratio of 2.82 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $521.91, a price-to-earnings ratio of 79.13, a PEG ratio of 2.23 and a beta of 1.44.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Wednesday, February 7th. The information services provider reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. TechTarget had a return on equity of 5.77% and a net margin of 6.27%. The company had revenue of $30.30 million for the quarter, compared to analyst estimates of $30.05 million. During the same quarter last year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. sell-side analysts expect that TechTarget Inc will post 0.43 earnings per share for the current year.
TechTarget Company Profile
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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