Principal Financial Group Inc. trimmed its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 0.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 167,524 shares of the information services provider’s stock after selling 883 shares during the quarter. Principal Financial Group Inc. owned 0.60% of TechTarget worth $11,635,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Veriti Management LLC acquired a new position in shares of TechTarget in the fourth quarter valued at approximately $54,000. Dorsey Wright & Associates boosted its stake in TechTarget by 134.2% in the 1st quarter. Dorsey Wright & Associates now owns 1,042 shares of the information services provider’s stock worth $72,000 after purchasing an additional 597 shares during the period. Nisa Investment Advisors LLC increased its holdings in TechTarget by 13.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,300 shares of the information services provider’s stock worth $77,000 after purchasing an additional 150 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its stake in shares of TechTarget by 900.0% in the 1st quarter. Guinness Atkinson Asset Management Inc now owns 1,440 shares of the information services provider’s stock valued at $100,000 after purchasing an additional 1,296 shares during the period. Finally, FIL Ltd bought a new stake in shares of TechTarget in the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 94.58% of the company’s stock.
In related news, CEO Michael Cotoia sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $75.79, for a total value of $189,475.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce Levenson sold 6,038 shares of the stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $72.08, for a total transaction of $435,219.04. Following the completion of the transaction, the director now directly owns 45,173 shares in the company, valued at $3,256,069.84. The disclosure for this sale can be found here. Insiders have sold a total of 58,622 shares of company stock valued at $4,276,049 in the last ninety days. Insiders own 16.42% of the company’s stock.
Shares of TTGT stock opened at $68.72 on Friday. TechTarget, Inc. has a 52-week low of $28.50 and a 52-week high of $101.12. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.91 and a current ratio of 2.91. The company has a market cap of $1.93 billion, a PE ratio of 116.48 and a beta of 0.87. The firm has a 50-day moving average price of $71.22.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, May 5th. The information services provider reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.04. The company had revenue of $57.99 million during the quarter, compared to analysts’ expectations of $55.30 million. TechTarget had a return on equity of 16.07% and a net margin of 9.81%. As a group, research analysts anticipate that TechTarget, Inc. will post 1.17 EPS for the current fiscal year.
Several research firms have commented on TTGT. Needham & Company LLC started coverage on TechTarget in a research note on Thursday, February 18th. They issued a “buy” rating and a $115.00 target price on the stock. Raymond James reduced their target price on shares of TechTarget from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, May 6th. Zacks Investment Research upgraded shares of TechTarget from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 14th. KeyCorp initiated coverage on shares of TechTarget in a research note on Thursday, April 8th. They set an “overweight” rating and a $95.00 price objective for the company. Finally, TheStreet downgraded TechTarget from a “b” rating to a “c+” rating in a research report on Thursday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $92.80.
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.
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