Envestnet Asset Management Inc. increased its position in TechTarget Inc (NASDAQ:TTGT) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,666 shares of the information services provider’s stock after buying an additional 3,688 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of TechTarget worth $871,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new stake in TechTarget in the second quarter valued at approximately $56,000. Aperio Group LLC purchased a new stake in TechTarget in the second quarter valued at approximately $72,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TechTarget by 262.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,578 shares of the information services provider’s stock valued at $97,000 after purchasing an additional 3,315 shares during the period. First Quadrant L P CA grew its holdings in TechTarget by 43.9% in the second quarter. First Quadrant L P CA now owns 5,979 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 1,823 shares during the period. Finally, Worth Venture Partners LLC purchased a new stake in TechTarget in the second quarter valued at approximately $223,000. 74.85% of the stock is owned by institutional investors and hedge funds.
TTGT opened at $28.04 on Friday. The company has a market cap of $691.30 million, a P/E ratio of 62.31 and a beta of 0.74. TechTarget Inc has a 52-week low of $11.12 and a 52-week high of $28.67. The company has a 50 day moving average of $23.61 and a two-hundred day moving average of $21.85. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 0.36.
TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, August 7th. The information services provider reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The company had revenue of $34.29 million for the quarter, compared to analysts’ expectations of $33.73 million. TechTarget had a net margin of 10.95% and a return on equity of 10.28%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. Research analysts anticipate that TechTarget Inc will post 0.65 earnings per share for the current year.
A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of TechTarget from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Zacks Investment Research downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Lake Street Capital boosted their target price on shares of TechTarget from $24.00 to $29.00 and gave the company a “buy” rating in a report on Thursday. Finally, ValuEngine downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.67.
In related news, Chairman Greg Strakosch sold 41,883 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.01, for a total value of $1,047,493.83. Following the sale, the chairman now owns 472,449 shares of the company’s stock, valued at approximately $11,815,949.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Don Hawk sold 15,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $22.34, for a total transaction of $335,100.00. The disclosure for this sale can be found here. Insiders have sold 89,709 shares of company stock worth $2,159,963 over the last three months. 27.14% of the stock is owned by corporate insiders.
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 advertising techniques.
Read More: What is a dead cat bounce?
Want to see what other hedge funds are holding TTGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechTarget Inc (NASDAQ:TTGT).
Receive News & Ratings for TechTarget Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechTarget and related companies with MarketBeat.com's FREE daily email newsletter.