TechTarget (NASDAQ:TTGT) Shares Cross Above 50 Day Moving Average – Time to Sell?

TechTarget, Inc. (NASDAQ:TTGT)’s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $3.82 and traded as high as $3.93. TechTarget shares last traded at $3.89, with a volume of 496,552 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of TechTarget in a research note on Thursday, October 15th. Needham & Company LLC lowered their target price on TechTarget from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.00.

TechTarget Stock Performance

The stock’s 50-day simple moving average is $3.82 and its 200 day simple moving average is $4.25. The company has a market capitalization of $281.36 million, a PE ratio of -1.59 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.15.

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 the consensus estimate of ($0.21) by ($0.09). The firm had revenue of $116.15 million for the quarter, compared to analysts’ expectations of $119.55 million. TechTarget had a negative return on equity of 0.62% and a negative net margin of 36.85%.

Insider Transactions at TechTarget

In other TechTarget news, CEO Gary Nugent sold 12,608 shares of TechTarget stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $3.74, for a total transaction of $47,153.92. Following the completion of the sale, the chief executive officer directly owned 25,758 shares of the company’s stock, valued at $96,334.92. The trade was a 32.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 25,939 shares of company stock worth $97,631. 0.91% of the stock is owned by insiders.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently added to or reduced their stakes in TTGT. Simplicity Wealth LLC acquired a new stake in TechTarget during the third quarter worth approximately $55,000. Corient Private Wealth LP acquired a new position in shares of TechTarget in the 2nd quarter valued at $48,000. Bank of New York Mellon Corp acquired a new position in shares of TechTarget in the 2nd quarter valued at $420,000. Bank of America Corp DE grew its position in shares of TechTarget by 10.3% in the 1st quarter. Bank of America Corp DE now owns 927,761 shares of the information services provider’s stock valued at $3,600,000 after buying an additional 86,836 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of TechTarget by 23.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 2,158,390 shares of the information services provider’s stock valued at $8,375,000 after buying an additional 412,584 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

About TechTarget

TechTarget, Inc is a business-to-business technology marketing and data company that helps technology vendors identify, reach and engage potential customers. Its platform uses research and content-consumption signals to provide insights into organizations that are actively evaluating technology products and services.

The company offers purchase-intent data, lead-generation programs, digital advertising, content marketing and sales-enablement services. Its products and services are designed to support technology companies throughout the buying process, from building awareness and generating demand to identifying prospective accounts and helping sales teams prioritize outreach.

TechTarget was founded in 1999 and is headquartered in Newton, Massachusetts.