TechTarget (NASDAQ:TTGT) CFO Daniel Noreck Sells 4,889 Shares of Stock

TechTarget, Inc. (NASDAQ:TTGT) CFO Daniel Noreck sold 4,889 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $3.74, for a total transaction of $18,284.86. Following the sale, the chief financial officer directly owned 96,626 shares of the company’s stock, valued at approximately $361,381.24. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

TechTarget Trading Down 0.5%

NASDAQ:TTGT opened at $3.75 on Friday. TechTarget, Inc. has a 12 month low of $3.37 and a 12 month high of $6.70. 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 market capitalization of $271.24 million, a price-to-earnings ratio of -1.53 and a beta of 1.08. The firm has a fifty day simple moving average of $3.92 and a two-hundred day simple moving average of $4.17.

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

Analysts Set New Price Targets

Several equities research analysts have commented on TTGT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of TechTarget in a research note on Friday, July 17th. Needham & Company LLC reduced their price target on shares of TechTarget from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, TechTarget has a consensus rating of “Hold” and an average price target of $8.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TTGT. Rice Hall James & Associates LLC lifted its holdings in TechTarget by 34.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 1,745,806 shares of the information services provider’s stock worth $9,427,000 after purchasing an additional 446,280 shares in the last quarter. EVR Research LP boosted its position in shares of TechTarget by 15.4% during the 4th quarter. EVR Research LP now owns 1,165,130 shares of the information services provider’s stock valued at $6,292,000 after acquiring an additional 155,130 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of TechTarget by 10.3% during the first 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. Inspire Investing LLC grew its stake in TechTarget by 48.5% in the 1st quarter. Inspire Investing LLC now owns 130,780 shares of the information services provider’s stock worth $507,000 after buying an additional 42,712 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in TechTarget in the second quarter valued at $420,000. 93.52% of the stock is owned by institutional investors.

About TechTarget

TechTarget, Inc is a business-to-business technology marketing and data company that operates the Informa TechTarget platform. The company helps technology vendors and service providers identify prospective customers, understand their research interests and purchasing activity, and engage with decision-makers throughout the buying process.

Its offerings include high-intent purchase data, account and audience intelligence, digital marketing solutions, demand-generation programs, content creation, lead generation, and research and advisory services.