Trigran Investments Inc. Has $74.51 Million Position in TechTarget, Inc. (NASDAQ:TTGT)

Trigran Investments Inc. cut its holdings in TechTarget, Inc. (NASDAQ:TTGT) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,759,509 shares of the information services provider’s stock after selling 45,315 shares during the quarter. TechTarget accounts for approximately 8.6% of Trigran Investments Inc.’s holdings, making the stock its 3rd largest position. Trigran Investments Inc. owned approximately 12.86% of TechTarget worth $74,513,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Advisory Research Inc. purchased a new stake in TechTarget during the 4th quarter valued at $2,364,000. Impax Asset Management Group plc boosted its position in TechTarget by 21.3% in the fourth quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock worth $8,451,000 after purchasing an additional 75,000 shares during the last quarter. Norges Bank bought a new stake in shares of TechTarget during the 4th quarter valued at about $1,364,000. Rockefeller Capital Management L.P. increased its position in shares of TechTarget by 13.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 581,430 shares of the information services provider’s stock valued at $11,524,000 after purchasing an additional 68,364 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of TechTarget by 399.1% in the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after purchasing an additional 36,714 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

TechTarget Price Performance

TTGT stock opened at $8.16 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The company’s fifty day moving average price is $12.85 and its 200-day moving average price is $19.95. TechTarget, Inc. has a one year low of $7.66 and a one year high of $35.11. The company has a market capitalization of $238.56 million, a PE ratio of -19.43, a price-to-earnings-growth ratio of 113.92 and a beta of 1.03.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TTGT shares. Craig Hallum decreased their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price target on shares of TechTarget in a report on Tuesday, January 21st. Raymond James downgraded TechTarget from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 11th. Needham & Company LLC reduced their target price on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, StockNews.com downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.29.

About TechTarget

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.