Renaissance Technologies LLC Boosts Holdings in TechTarget, Inc. (NASDAQ:TTGT)

Renaissance Technologies LLC boosted its stake in TechTarget, Inc. (NASDAQ:TTGT) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 542,877 shares of the information services provider’s stock after buying an additional 3,710 shares during the quarter. Renaissance Technologies LLC owned approximately 1.86% of TechTarget worth $10,760,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TTGT. KBC Group NV lifted its position in shares of TechTarget by 79.1% in the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 962 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in TechTarget in the 4th quarter valued at $103,000. MeadowBrook Investment Advisors LLC boosted its stake in TechTarget by 26.4% during the 4th quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock worth $169,000 after purchasing an additional 1,780 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of TechTarget during the fourth quarter worth $173,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of TechTarget in the fourth quarter valued at about $377,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Stock Performance

Shares of TechTarget stock opened at $8.40 on Thursday. The firm has a market cap of $245.57 million, a PE ratio of -20.00, a price-to-earnings-growth ratio of 113.92 and a beta of 1.03. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget, Inc. has a 52 week low of $7.66 and a 52 week high of $35.11. The business’s fifty day simple moving average is $13.21 and its 200-day simple moving average is $20.20.

Wall Street Analyst Weigh In

TTGT has been the subject of several research reports. StockNews.com began coverage on shares of TechTarget in a research note on Monday, February 10th. They set a “hold” rating for the company. Lake Street Capital cut their price target on TechTarget from $24.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price objective on shares of TechTarget in a research note on Tuesday, January 21st. Needham & Company LLC cut their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Craig Hallum reduced their price target on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

TechTarget Company Profile

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.