TechTarget (NASDAQ:TTGT) CFO Sells $21,687.05 in Stock

TechTarget, Inc. (NASDAQ:TTGT) CFO Daniel Noreck sold 5,633 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $3.85, for a total transaction of $21,687.05. Following the completion of the transaction, the chief financial officer directly owned 85,480 shares of the company’s stock, valued at approximately $329,098. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

TechTarget Price Performance

Shares of TTGT traded up $0.07 during mid-day trading on Tuesday, reaching $3.89. 262,000 shares of the stock traded hands, compared to its average volume of 456,663. The company has a market cap of $281.38 million, a price-to-earnings ratio of -1.59 and a beta of 1.12. TechTarget, Inc. has a 1 year low of $3.37 and a 1 year high of $7.15. The firm has a fifty day moving average price of $3.87 and a 200 day moving average price of $4.27. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.24.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Thursday, August 6th. The information services provider reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.09). The business had revenue of $116.15 million during the quarter, compared to analysts’ expectations of $119.55 million. TechTarget had a negative return on equity of 0.62% and a negative net margin of 36.85%.

Institutional Trading of TechTarget

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in shares of TechTarget during the 2nd quarter worth $420,000. Bank of America Corp DE grew its position in TechTarget by 10.3% in the first quarter. Bank of America Corp DE now owns 927,761 shares of the information services provider’s stock worth $3,600,000 after acquiring an additional 86,836 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in TechTarget by 23.6% in the first quarter. Rice Hall James & Associates LLC now owns 2,158,390 shares of the information services provider’s stock valued at $8,375,000 after acquiring an additional 412,584 shares during the last quarter. Sei Investments Co. increased its stake in TechTarget by 43.8% in the first quarter. Sei Investments Co. now owns 36,108 shares of the information services provider’s stock valued at $140,000 after acquiring an additional 10,994 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in TechTarget by 11.0% during the first quarter. Cetera Investment Advisers now owns 45,020 shares of the information services provider’s stock valued at $175,000 after purchasing an additional 4,452 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TTGT. Needham & Company LLC lowered their price target on TechTarget from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of TechTarget in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.00.

TechTarget Company Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.