Nine Ten Partners Lp Sells 47,945 Shares of TechTarget, Inc. (TTGT) Stock
TechTarget, Inc. (NASDAQ:TTGT) major shareholder Nine Ten Partners Lp sold 47,945 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $11.04, for a total value of $529,312.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of TechTarget, Inc. (NASDAQ TTGT) traded up 2.68% on Wednesday, reaching $11.51. The company’s stock had a trading volume of 100,759 shares. TechTarget, Inc. has a 52-week low of $7.85 and a 52-week high of $11.55. The stock has a 50-day moving average of $10.02 and a 200 day moving average of $9.55. The company has a market cap of $315.39 million, a price-to-earnings ratio of 225.69 and a beta of 1.44.
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). TechTarget had a return on equity of 1.38% and a net margin of 1.36%. The business had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $26.26 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities research analysts forecast that TechTarget, Inc. will post $0.38 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the company. American International Group Inc. raised its stake in shares of TechTarget by 5.6% in the first quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock worth $103,000 after purchasing an additional 602 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of TechTarget by 2.6% in the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock worth $115,000 after purchasing an additional 275 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of TechTarget by 12.6% in the second quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock worth $131,000 after purchasing an additional 1,418 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of TechTarget in the first quarter worth $140,000. Finally, Alliancebernstein L.P. raised its stake in shares of TechTarget by 0.5% in the second quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock worth $225,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 56.11% of the company’s stock.
A number of brokerages have issued reports on TTGT. Jefferies Group LLC downgraded TechTarget from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research note on Thursday, August 17th. BidaskClub downgraded TechTarget from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Craig Hallum upgraded TechTarget from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $10.75.
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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