American International Group Inc. Raises Position in TechTarget, Inc. (NASDAQ:TTGT)
American International Group Inc. raised its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 5.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,363 shares of the information services provider’s stock after buying an additional 602 shares during the period. American International Group Inc.’s holdings in TechTarget were worth $103,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Prudential Financial Inc. increased its position in shares of TechTarget by 8.0% in the first quarter. Prudential Financial Inc. now owns 37,752 shares of the information services provider’s stock worth $341,000 after buying an additional 2,800 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of TechTarget during the first quarter worth $641,000. Bank of New York Mellon Corp increased its position in shares of TechTarget by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 75,157 shares of the information services provider’s stock worth $678,000 after buying an additional 1,611 shares in the last quarter. State Street Corp increased its position in shares of TechTarget by 3.4% in the fourth quarter. State Street Corp now owns 231,237 shares of the information services provider’s stock worth $1,977,000 after buying an additional 7,578 shares in the last quarter. Finally, TIAA CREF Trust Co. FSB MO acquired a new position in shares of TechTarget during the first quarter worth $3,300,000. Institutional investors own 55.76% of the company’s stock.
TechTarget, Inc. (NASDAQ:TTGT) traded up 0.40% during trading on Friday, reaching $10.06. The company had a trading volume of 1,070 shares. The company has a 50 day moving average price of $9.91 and a 200 day moving average price of $9.32. TechTarget, Inc. has a 52-week low of $7.68 and a 52-week high of $10.59. The company has a market capitalization of $275.86 million, a PE ratio of 197.25 and a beta of 1.53.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The company had revenue of $26.70 million for the quarter, compared to analyst estimates of $26.26 million. TechTarget had a return on equity of 1.39% and a net margin of 1.36%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. On average, equities analysts forecast that TechTarget, Inc. will post $0.38 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on TTGT shares. Craig Hallum upgraded TechTarget from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research upgraded TechTarget from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Friday, May 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $11.00 target price (up previously from $10.00) on shares of TechTarget in a report on Sunday, May 14th. Needham & Company LLC upped their target price on TechTarget from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, May 11th. Finally, BidaskClub upgraded TechTarget from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $10.50.
In other news, President Kevin Beam sold 25,000 shares of TechTarget stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $9.27, for a total transaction of $231,750.00. Following the completion of the transaction, the president now directly owns 520,533 shares in the company, valued at approximately $4,825,340.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 60,000 shares of company stock valued at $583,600 over the last quarter. 30.19% of the stock is currently owned by corporate insiders.
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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