Sean Paul Tierney Sells 3,112 Shares of TechTarget (NASDAQ:TTGT) Stock

TechTarget, Inc. (NASDAQ:TTGT) CTO Sean Paul Tierney sold 3,112 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $5.99, for a total transaction of $18,640.88. Following the transaction, the chief technology officer directly owned 26,584 shares in the company, valued at approximately $159,238.16. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

TechTarget Stock Down 0.8%

Shares of NASDAQ:TTGT opened at $6.17 on Wednesday. The business’s 50 day moving average is $6.98 and its 200 day moving average is $9.38. The stock has a market cap of $441.09 million, a P/E ratio of -14.69 and a beta of 0.96. TechTarget, Inc. has a 52-week low of $5.55 and a 52-week high of $33.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.18.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.17. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%.The business had revenue of $119.94 million during the quarter, compared to analyst estimates of $106.19 million. Sell-side analysts predict that TechTarget, Inc. will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TTGT. GAMMA Investing LLC lifted its position in TechTarget by 4,513.8% during the second quarter. GAMMA Investing LLC now owns 5,029 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 4,920 shares during the last quarter. CWM LLC increased its position in shares of TechTarget by 904.0% during the second quarter. CWM LLC now owns 5,221 shares of the information services provider’s stock worth $41,000 after purchasing an additional 4,701 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of TechTarget during the 2nd quarter valued at $81,000. Los Angeles Capital Management LLC acquired a new stake in shares of TechTarget in the 2nd quarter worth $90,000. Finally, Intech Investment Management LLC boosted its position in shares of TechTarget by 13.4% in the 2nd quarter. Intech Investment Management LLC now owns 13,526 shares of the information services provider’s stock worth $105,000 after purchasing an additional 1,601 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on TTGT shares. Wall Street Zen lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. cut shares of TechTarget from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of TechTarget in a research note on Wednesday, July 2nd. Lake Street Capital reduced their price objective on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. Finally, Craig Hallum initiated coverage on TechTarget in a report on Monday, June 9th. They set a “buy” rating and a $12.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.40.

About TechTarget

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.