TechTarget (NASDAQ:TTGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

According to Zacks, “TECHTARGET, a leading online Information Technology media company, provides IT companies with ROI-focused marketing programs to generate leads, shorten sales cycles, and grow revenues. The company is also a leading provider of independent, peer and vendor content, a leading distributor of white papers, and a leading producer of vendor-sponsored Webcasts and Podcasts for the IT market. Its Web sites are complemented by numerous invitation-only events and two magazines. TechTarget provides proven lead generation and branding programs to numerous advertisers including Cisco, Dell, EMC, HP, IBM, Intel, Microsoft, SAP and Symantec. “

A number of other research analysts have also issued reports on the company. BidaskClub lowered TechTarget from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Craig Hallum lowered TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price target for the company. in a research report on Thursday, August 9th. They noted that the move was a valuation call. ValuEngine lowered TechTarget from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Raymond James started coverage on TechTarget in a research report on Thursday, September 27th. They set an “outperform” rating and a $26.00 price target for the company. Finally, Lake Street Capital cut their price objective on TechTarget from $32.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, November 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. TechTarget currently has an average rating of “Hold” and an average price target of $27.00.

Shares of TTGT stock opened at $15.32 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.11. TechTarget has a 1 year low of $12.30 and a 1 year high of $34.47. The firm has a market cap of $428.99 million, a price-to-earnings ratio of 63.83 and a beta of 0.93.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, November 7th. The information services provider reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.07). TechTarget had a return on equity of 10.88% and a net margin of 11.42%. The business had revenue of $30.74 million for the quarter, compared to analyst estimates of $31.08 million. During the same quarter last year, the firm posted $0.11 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Equities analysts expect that TechTarget will post 0.47 EPS for the current year.

In other news, CFO Daniel T. Noreck sold 2,000 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $19.21, for a total value of $38,420.00. Following the completion of the sale, the chief financial officer now owns 2,056 shares in the company, valued at $39,495.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cotoia sold 14,500 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $20.43, for a total value of $296,235.00. Following the completion of the sale, the chief executive officer now owns 69,310 shares of the company’s stock, valued at approximately $1,416,003.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 801,810 shares of company stock valued at $18,287,434. Insiders own 27.14% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Federated Investors Inc. PA lifted its holdings in shares of TechTarget by 307.0% in the second quarter. Federated Investors Inc. PA now owns 4,550 shares of the information services provider’s stock valued at $130,000 after buying an additional 3,432 shares during the period. First Quadrant L P CA lifted its holdings in shares of TechTarget by 101.5% in the third quarter. First Quadrant L P CA now owns 8,373 shares of the information services provider’s stock valued at $163,000 after buying an additional 4,217 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of TechTarget by 4.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 104,665 shares of the information services provider’s stock valued at $2,017,000 after buying an additional 4,585 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of TechTarget by 56.2% during the third quarter. MetLife Investment Advisors LLC now owns 15,339 shares of the information services provider’s stock valued at $298,000 after purchasing an additional 5,522 shares during the last quarter. Finally, Ingalls & Snyder LLC lifted its holdings in shares of TechTarget by 35.7% during the third quarter. Ingalls & Snyder LLC now owns 22,534 shares of the information services provider’s stock valued at $438,000 after purchasing an additional 5,932 shares during the last quarter. Institutional investors and hedge funds own 60.16% of the company’s stock.

About TechTarget

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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