Key Points
- TechTarget President William Thomas Morelli sold 2,809 shares at an average price of $3.74, generating $10,505.66 and reducing his ownership by 25.31% to 8,288 shares.
- TechTarget shares opened at $3.75, below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.30 per share, missing estimates, while revenue of $116.15 million also fell short of forecasts.
- Analysts have a consensus “Hold” rating and an $8.00 price target, while institutional investors own 93.52% of the company’s stock.
TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) President William Thomas Morelli sold 2,809 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $3.74, for a total transaction of $10,505.66. Following the completion of the sale, the president owned 8,288 shares in the company, valued at $30,997.12. This represents a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
TechTarget Stock Down 0.5%
Shares of NASDAQ:TTGT opened at $3.75 on Friday. The firm has a fifty day moving average price of $3.92 and a two-hundred day moving average price of $4.17. The company has a market cap of $271.24 million, a price-to-earnings ratio of -1.53 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.15 and a quick ratio of 1.15. TechTarget, Inc. has a one year low of $3.37 and a one year high of $6.70.
TechTarget (NASDAQ:TTGT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The information services provider reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.09). TechTarget had a negative return on equity of 0.62% and a negative net margin of 36.85%.The firm had revenue of $116.15 million during the quarter, compared to the consensus estimate of $119.55 million.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on TTGT shares. Weiss Ratings restated a "sell (e+)" rating on shares of TechTarget in a research note on Friday, July 17th. Needham & Company LLC dropped their price target on TechTarget from $15.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TechTarget presently has a consensus rating of "Hold" and a consensus price target of $8.00.
Check Out Our Latest Stock Report on TTGT
Institutional Trading of TechTarget
Several institutional investors and hedge funds have recently made changes to their positions in TTGT. Cetera Investment Advisers lifted its stake in TechTarget by 11.0% during the first quarter. Cetera Investment Advisers now owns 45,020 shares of the information services provider's stock worth $175,000 after purchasing an additional 4,452 shares during the last quarter. Legato Capital Management LLC increased its position in shares of TechTarget by 39.7% during the 4th quarter. Legato Capital Management LLC now owns 21,553 shares of the information services provider's stock valued at $116,000 after purchasing an additional 6,125 shares during the last quarter. Sei Investments Co. raised its holdings in shares of TechTarget by 43.8% during the 1st quarter. Sei Investments Co. now owns 36,108 shares of the information services provider's stock valued at $140,000 after buying an additional 10,994 shares in the last quarter. Corient Private Wealth LP purchased a new position in shares of TechTarget during the 2nd quarter valued at about $48,000. Finally, Alpine Global Management LLC bought a new stake in TechTarget in the 4th quarter worth approximately $93,000. Hedge funds and other institutional investors own 93.52% of the company's stock.
About TechTarget
(
Get Free Report)
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.
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