Loomis Sayles & Co. L P lessened its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 15.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 587,189 shares of the information services provider’s stock after selling 110,903 shares during the quarter. Loomis Sayles & Co. L P’s holdings in TechTarget were worth $40,781,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in TTGT. FIL Ltd purchased a new position in shares of TechTarget in the fourth quarter valued at approximately $143,000. Rhumbline Advisers boosted its stake in shares of TechTarget by 3.2% in the fourth quarter. Rhumbline Advisers now owns 64,282 shares of the information services provider’s stock valued at $3,800,000 after purchasing an additional 1,981 shares during the period. Northern Trust Corp boosted its stake in shares of TechTarget by 8.4% in the fourth quarter. Northern Trust Corp now owns 338,833 shares of the information services provider’s stock valued at $20,028,000 after purchasing an additional 26,335 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of TechTarget by 4.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,232 shares of the information services provider’s stock valued at $841,000 after purchasing an additional 615 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of TechTarget in the fourth quarter valued at approximately $1,345,000. 94.44% of the stock is owned by institutional investors.
In related news, Director Roger M. Marino sold 17,124 shares of TechTarget stock in a transaction on Monday, July 19th. The shares were sold at an average price of $70.72, for a total value of $1,211,009.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roger M. Marino sold 14,255 shares of TechTarget stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $70.06, for a total transaction of $998,705.30. The disclosure for this sale can be found here. Insiders sold a total of 68,021 shares of company stock worth $4,873,154 over the last ninety days. Corporate insiders own 10.45% of the company’s stock.
TechTarget (NASDAQ:TTGT) last announced its earnings results on Wednesday, May 5th. The information services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $57.99 million for the quarter, compared to analysts’ expectations of $55.30 million. TechTarget had a net margin of 9.81% and a return on equity of 16.07%. On average, equities analysts predict that TechTarget, Inc. will post 1.17 EPS for the current year.
Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of TechTarget in a research note on Wednesday, June 23rd. They issued a “buy” rating and a $80.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of TechTarget in a research note on Wednesday, June 30th. They issued a “neutral” rating and a $81.00 price objective for the company. Zacks Investment Research raised shares of TechTarget from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 14th. TheStreet raised shares of TechTarget from a “c+” rating to a “b” rating in a report on Friday, July 9th. Finally, Raymond James reduced their target price on shares of TechTarget from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Thursday, May 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target 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.
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