S Squared Technology LLC continued to hold its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,666 shares of the information services provider’s stock at the end of the first quarter. S Squared Technology LLC owned 0.45% of TechTarget worth $1,117,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. American International Group Inc. increased its stake in shares of TechTarget by 5.6% in the first quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock worth $103,000 after buying an additional 602 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of TechTarget during the fourth quarter worth about $173,000. Prudential Financial Inc. increased its stake in shares of TechTarget by 8.0% in the first quarter. Prudential Financial Inc. now owns 37,752 shares of the information services provider’s stock worth $341,000 after buying an additional 2,800 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of TechTarget during the first quarter worth about $641,000. Finally, Bank of New York Mellon Corp increased its stake in shares of TechTarget by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 75,157 shares of the information services provider’s stock worth $678,000 after buying an additional 1,611 shares during the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.
Shares of TechTarget, Inc. (TTGT) traded up 1.72% during trading on Friday, hitting $10.07. The stock had a trading volume of 68,172 shares. The stock has a 50-day moving average of $9.30 and a 200 day moving average of $8.95. The firm has a market cap of $276.36 million, a price-to-earnings ratio of 119.88 and a beta of 1.50. TechTarget, Inc. has a 12-month low of $6.73 and a 12-month high of $10.09.
TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, May 10th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. TechTarget had a return on equity of 2.19% and a net margin of 2.32%. The business had revenue of $23.60 million during the quarter, compared to analyst estimates of $23.16 million. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts predict that TechTarget, Inc. will post $0.36 earnings per share for the current fiscal year.
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A number of brokerages recently issued reports on TTGT. Needham & Company LLC raised their price objective on TechTarget from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, May 11th. Jefferies Group LLC restated a “buy” rating and set a $10.00 target price on shares of TechTarget in a report on Monday, April 24th. Zacks Investment Research upgraded TechTarget from a “sell” rating to a “hold” rating in a report on Wednesday, March 1st. Finally, ValuEngine upgraded TechTarget from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $10.50.
In related news, CEO Michael Cotoia sold 6,972 shares of the stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $9.03, for a total value of $62,957.16. Following the completion of the transaction, the chief executive officer now owns 206,334 shares of the company’s stock, valued at $1,863,196.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kevin Beam sold 25,000 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $9.27, for a total value of $231,750.00. Following the completion of the transaction, the president now directly owns 520,533 shares of the company’s stock, valued at approximately $4,825,340.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,628 shares of company stock valued at $1,186,806. Insiders own 30.19% of the company’s stock.
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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