Insider Selling: TechTarget (NASDAQ:TTGT) CEO Sells 12,608 Shares of Stock

TechTarget, Inc. (NASDAQ:TTGT) CEO Gary Nugent sold 12,608 shares of TechTarget stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $3.74, for a total value of $47,153.92. Following the completion of the transaction, the chief executive officer owned 25,758 shares of the company’s stock, valued at approximately $96,334.92. This trade represents a 32.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

TechTarget Stock Down 0.5%

NASDAQ TTGT traded down $0.02 during trading hours on Thursday, hitting $3.75. 289,850 shares of the company were exchanged, compared to its average volume of 435,748. The company has a 50 day moving average of $3.92 and a two-hundred day moving average of $4.17. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.24. TechTarget, Inc. has a 52-week low of $3.37 and a 52-week high of $6.70. The firm has a market cap of $271.25 million, a price-to-earnings ratio of -1.53 and a beta of 1.08.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results 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 company had revenue of $116.15 million during the quarter, compared to analyst estimates of $119.55 million. TechTarget had a negative net margin of 36.85% and a negative return on equity of 0.62%.

Institutional Investors Weigh In On TechTarget

Several hedge funds and other institutional investors have recently made changes to their positions in TTGT. Rice Hall James & Associates LLC lifted its stake in TechTarget by 34.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 1,745,806 shares of the information services provider’s stock worth $9,427,000 after purchasing an additional 446,280 shares during the last quarter. EVR Research LP raised its holdings in TechTarget by 15.4% during the fourth quarter. EVR Research LP now owns 1,165,130 shares of the information services provider’s stock worth $6,292,000 after purchasing an additional 155,130 shares in the last quarter. Bank of America Corp DE raised its holdings in TechTarget by 10.3% during 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 purchasing an additional 86,836 shares in the last quarter. Inspire Investing LLC lifted its position in shares of TechTarget by 48.5% during the 1st quarter. Inspire Investing LLC now owns 130,780 shares of the information services provider’s stock worth $507,000 after buying an additional 42,712 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of TechTarget during the 2nd quarter worth approximately $420,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

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

About TechTarget

TechTarget, Inc is a business-to-business technology marketing and data company that operates the Informa TechTarget platform. The company helps technology vendors and service providers identify prospective customers, understand their research interests and purchasing activity, and engage with decision-makers throughout the buying process.

Its offerings include high-intent purchase data, account and audience intelligence, digital marketing solutions, demand-generation programs, content creation, lead generation, and research and advisory services.