Man Group plc Reduces Position in TechTarget, Inc. (NASDAQ:TTGT)

Man Group plc trimmed its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 14.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 121,596 shares of the information services provider’s stock after selling 20,346 shares during the quarter. Man Group plc’s holdings in TechTarget were worth $8,445,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TTGT. Jane Street Group LLC bought a new stake in TechTarget in the first quarter worth about $1,755,000. Point72 Hong Kong Ltd purchased a new stake in shares of TechTarget in the first quarter worth approximately $55,000. Price T Rowe Associates Inc. MD raised its holdings in shares of TechTarget by 186.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 404,284 shares of the information services provider’s stock worth $28,078,000 after buying an additional 263,197 shares during the period. Nomura Holdings Inc. bought a new stake in shares of TechTarget during the 1st quarter worth approximately $835,000. Finally, Eqis Capital Management Inc. boosted its holdings in TechTarget by 93.1% during the 1st quarter. Eqis Capital Management Inc. now owns 12,995 shares of the information services provider’s stock valued at $902,000 after acquiring an additional 6,267 shares during the period. 94.44% of the stock is currently owned by institutional investors.

In other news, Director Roger M. Marino sold 20,000 shares of the company’s stock in a transaction on Monday, June 21st. The stock was sold at an average price of $70.54, for a total transaction of $1,410,800.00. Following the transaction, the director now directly owns 2,500 shares of the company’s stock, valued at $176,350. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Roger M. Marino sold 588 shares of the company’s stock in a transaction on Monday, May 17th. The stock was sold at an average price of $70.10, for a total value of $41,218.80. The disclosure for this sale can be found here. Insiders have sold a total of 68,021 shares of company stock valued at $4,873,154 over the last 90 days. 10.45% of the stock is currently owned by company insiders.

Shares of TTGT opened at $74.33 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.91 and a quick ratio of 2.91. The stock has a 50 day simple moving average of $71.75. TechTarget, Inc. has a fifty-two week low of $33.65 and a fifty-two week high of $101.12. The stock has a market cap of $2.09 billion, a PE ratio of 125.99 and a beta of 0.88.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, May 5th. The information services provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $57.99 million during the quarter, compared to analyst estimates of $55.30 million. TechTarget had a return on equity of 16.07% and a net margin of 9.81%. On average, equities analysts expect that TechTarget, Inc. will post 1.17 earnings per share for the current fiscal year.

TTGT has been the subject of several research analyst reports. Raymond James decreased their target price on TechTarget from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Thursday, May 6th. Zacks Investment Research upgraded shares of TechTarget from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 14th. JPMorgan Chase & Co. began coverage on shares of TechTarget in a research report on Wednesday, June 30th. They issued a “neutral” rating and a $81.00 price objective for the company. TheStreet raised shares of TechTarget from a “c+” rating to a “b” rating in a research report on Friday, July 9th. Finally, Sidoti began coverage on TechTarget in a report on Wednesday, July 7th. They issued a “buy” rating and a $97.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.25.

TechTarget Company Profile

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for enterprise technology companies in North America 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.

Further Reading: Most Volatile Stocks

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Institutional Ownership by Quarter for TechTarget (NASDAQ:TTGT)

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