TechTarget Inc (TTGT) CEO Sells $134,656.47 in Stock

TechTarget Inc (NASDAQ:TTGT) CEO Michael Cotoia sold 8,307 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $16.21, for a total transaction of $134,656.47. Following the completion of the sale, the chief executive officer now owns 69,310 shares of the company’s stock, valued at approximately $1,123,515.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of NASDAQ TTGT traded down $0.06 during midday trading on Tuesday, hitting $16.87. The company had a trading volume of 435,275 shares, compared to its average volume of 278,758. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.18. TechTarget Inc has a twelve month low of $11.12 and a twelve month high of $34.47. The stock has a market capitalization of $472.69 million, a price-to-earnings ratio of 37.49 and a beta of 1.09.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, February 6th. The information services provider reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. TechTarget had a net margin of 10.68% and a return on equity of 10.06%. The firm had revenue of $31.82 million during the quarter, compared to analysts’ expectations of $31.37 million. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts expect that TechTarget Inc will post 0.61 EPS for the current fiscal year.

Several research firms have recently commented on TTGT. BidaskClub upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Zacks Investment Research cut shares of TechTarget from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. Finally, ValuEngine upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. TechTarget currently has an average rating of “Hold” and a consensus price target of $27.00.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ingalls & Snyder LLC grew its holdings in shares of TechTarget by 3.6% during the fourth quarter. Ingalls & Snyder LLC now owns 23,337 shares of the information services provider’s stock worth $285,000 after buying an additional 803 shares in the last quarter. American International Group Inc. grew its holdings in shares of TechTarget by 18.6% during the fourth quarter. American International Group Inc. now owns 15,982 shares of the information services provider’s stock worth $195,000 after buying an additional 2,501 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TechTarget by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,011,703 shares of the information services provider’s stock worth $12,353,000 after buying an additional 3,586 shares in the last quarter. Pearl River Capital LLC purchased a new stake in shares of TechTarget during the fourth quarter worth about $60,000. Finally, MetLife Investment Advisors LLC grew its holdings in shares of TechTarget by 56.2% during the third quarter. MetLife Investment Advisors LLC now owns 15,339 shares of the information services provider’s stock worth $298,000 after buying an additional 5,522 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

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About TechTarget

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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