TechTarget Inc (TTGT) Stake Decreased by United Services Automobile Association

United Services Automobile Association cut its position in shares of TechTarget Inc (NASDAQ:TTGT) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,812 shares of the information services provider’s stock after selling 6,100 shares during the period. United Services Automobile Association owned 0.35% of TechTarget worth $2,749,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TTGT. BlackRock Inc. increased its stake in shares of TechTarget by 44.0% during the 2nd quarter. BlackRock Inc. now owns 1,825,752 shares of the information services provider’s stock worth $51,851,000 after purchasing an additional 557,794 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of TechTarget by 42.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,198,800 shares of the information services provider’s stock worth $34,046,000 after purchasing an additional 355,800 shares during the last quarter. Ashford Capital Management Inc. increased its stake in shares of TechTarget by 84.8% during the 2nd quarter. Ashford Capital Management Inc. now owns 685,456 shares of the information services provider’s stock worth $19,467,000 after purchasing an additional 314,453 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of TechTarget by 146.9% during the 2nd quarter. Acadian Asset Management LLC now owns 392,747 shares of the information services provider’s stock worth $11,154,000 after purchasing an additional 233,663 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of TechTarget by 23.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 825,252 shares of the information services provider’s stock worth $16,406,000 after purchasing an additional 154,516 shares during the last quarter. Institutional investors own 59.08% of the company’s stock.

Shares of TTGT opened at $19.89 on Thursday. TechTarget Inc has a 52 week low of $11.71 and a 52 week high of $34.47. The stock has a market capitalization of $535.62 million, a P/E ratio of 82.88 and a beta of 1.06. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.13.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, August 8th. The information services provider reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The business had revenue of $31.47 million for the quarter, compared to analyst estimates of $30.81 million. During the same quarter in the prior year, the business earned $0.09 EPS. TechTarget’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts expect that TechTarget Inc will post 0.49 earnings per share for the current year.

TTGT has been the topic of several recent analyst reports. BidaskClub lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Craig Hallum lowered shares of TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research note on Thursday, August 9th. They noted that the move was a valuation call. ValuEngine lowered shares of TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research lowered shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, Raymond James assumed coverage on shares of TechTarget in a research note on Thursday, September 27th. They issued an “outperform” rating and a $26.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $24.17.

In other TechTarget news, Director Roger M. Marino sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $28.34, for a total value of $283,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Greg Strakosch sold 25,000 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $32.44, for a total transaction of $811,000.00. Following the completion of the sale, the insider now directly owns 693,542 shares of the company’s stock, valued at approximately $22,498,502.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 809,408 shares of company stock worth $19,066,838. 27.14% of the stock is owned by company insiders.

TechTarget Company Profile

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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Institutional Ownership by Quarter for TechTarget (NASDAQ:TTGT)

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