TechTarget (NASDAQ:TTGT) CFO Daniel Noreck Sells 5,633 Shares

TechTarget, Inc. (NASDAQ:TTGT) CFO Daniel Noreck sold 5,633 shares of TechTarget stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $3.85, for a total value of $21,687.05. Following the completion of the transaction, the chief financial officer owned 85,480 shares of the company’s stock, valued at approximately $329,098. The trade was a 6.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

TechTarget Stock Up 1.8%

NASDAQ:TTGT opened at $3.89 on Wednesday. TechTarget, Inc. has a 52 week low of $3.37 and a 52 week high of $7.15. The firm has a market capitalization of $281.36 million, a PE ratio of -1.59 and a beta of 1.12. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $3.87 and a 200-day moving average of $4.26.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Thursday, August 6th. The information services provider reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.09). The business had revenue of $116.15 million for the quarter, compared to the consensus estimate of $119.55 million. TechTarget had a negative net margin of 36.85% and a negative return on equity of 0.62%.

Institutional Investors Weigh In On TechTarget

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of TechTarget in the 2nd quarter worth $420,000. Bank of America Corp DE increased its stake in TechTarget by 10.3% during the 1st quarter. Bank of America Corp DE now owns 927,761 shares of the information services provider’s stock worth $3,600,000 after purchasing an additional 86,836 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in TechTarget by 23.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 2,158,390 shares of the information services provider’s stock valued at $8,375,000 after acquiring an additional 412,584 shares in the last quarter. Sei Investments Co. raised its stake in shares of TechTarget by 43.8% in the 1st quarter. Sei Investments Co. now owns 36,108 shares of the information services provider’s stock valued at $140,000 after purchasing an additional 10,994 shares during the period. Finally, Cetera Investment Advisers boosted its position in TechTarget by 11.0% during the 1st quarter. Cetera Investment Advisers now owns 45,020 shares of the information services provider’s stock worth $175,000 after acquiring an additional 4,452 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TTGT shares. Needham & Company LLC reduced their price objective on TechTarget from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TechTarget in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, TechTarget has a consensus rating of “Hold” and an average price target of $8.00.

TechTarget Company Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.