TechTarget Inc. (TTGT) Position Maintained by Heartland Advisors Inc.
Heartland Advisors Inc. maintained its position in TechTarget Inc. (NASDAQ:TTGT) during the third quarter, Holdings Channel reports. The fund owned 400,000 shares of the company’s stock at the end of the third quarter. Heartland Advisors Inc.’s holdings in TechTarget were worth $3,224,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TTGT. Punch & Associates Investment Management Inc. raised its position in shares of TechTarget by 1.8% in the third quarter. Punch & Associates Investment Management Inc. now owns 965,544 shares of the company’s stock worth $7,782,000 after buying an additional 16,779 shares during the last quarter. Bank of Montreal Can raised its stake in TechTarget by 68,257.7% in the third quarter. Bank of Montreal Can now owns 66,307 shares of the company’s stock worth $535,000 after buying an additional 66,210 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in TechTarget during the second quarter worth $111,000. Allianz Asset Management AG raised its stake in TechTarget by 2.7% in the second quarter. Allianz Asset Management AG now owns 341,566 shares of the company’s stock worth $2,767,000 after buying an additional 9,065 shares during the last quarter. Finally, Spark Investment Management LLC raised its stake in TechTarget by 157.8% in the second quarter. Spark Investment Management LLC now owns 41,500 shares of the company’s stock worth $336,000 after buying an additional 25,400 shares during the last quarter. Hedge funds and other institutional investors own 56.62% of the company’s stock.
Shares of TechTarget Inc. (NASDAQ:TTGT) traded down 0.59% during mid-day trading on Tuesday, reaching $8.46. 52,264 shares of the company were exchanged. The stock has a market capitalization of $235.32 million, a P/E ratio of 64.09 and a beta of 1.85. The stock has a 50 day moving average price of $8.30 and a 200-day moving average price of $8.27. TechTarget Inc. has a 12 month low of $5.98 and a 12 month high of $9.24.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business earned $25.80 million during the quarter, compared to the consensus estimate of $26.26 million. TechTarget had a net margin of 3.93% and a return on equity of 3.59%. The company’s revenue was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. Analysts predict that TechTarget Inc. will post $0.25 earnings per share for the current year.
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A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research note on Tuesday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of TechTarget in a research note on Thursday, November 10th. Lake Street Capital cut their price objective on shares of TechTarget from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Finally, Jefferies Group reiterated a “buy” rating and issued a $9.50 price objective on shares of TechTarget in a research note on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $9.90.
In other news, insider Don Hawk sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $8.07, for a total transaction of $161,400.00. Following the completion of the sale, the insider now owns 359,520 shares in the company, valued at approximately $2,901,326.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 48.65% of the company’s stock.
TechTarget Company Profile
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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