Trigran Investments Inc. Sells 278,796 Shares of TechTarget, Inc. $TTGT

Trigran Investments Inc. trimmed its stake in TechTarget, Inc. (NASDAQ:TTGT) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,735,072 shares of the information services provider’s stock after selling 278,796 shares during the quarter. TechTarget makes up about 5.0% of Trigran Investments Inc.’s portfolio, making the stock its 11th biggest holding. Trigran Investments Inc. owned 0.07% of TechTarget worth $25,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in TechTarget by 103.5% in the third quarter. BNP Paribas Financial Markets now owns 5,658 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 2,877 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in TechTarget in the second quarter valued at approximately $81,000. CWM LLC grew its stake in TechTarget by 454.8% in the fourth quarter. CWM LLC now owns 10,664 shares of the information services provider’s stock valued at $58,000 after purchasing an additional 8,742 shares in the last quarter. Quotient Wealth Partners LLC bought a new position in TechTarget in the fourth quarter valued at approximately $59,000. Finally, Legato Capital Management LLC bought a new position in TechTarget in the third quarter valued at approximately $90,000. 93.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on TTGT shares. Lake Street Capital decreased their price target on TechTarget from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TechTarget in a research note on Monday, April 20th. Needham & Company LLC reiterated a “buy” rating on shares of TechTarget in a research note on Thursday, March 12th. Finally, Wall Street Zen upgraded TechTarget from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.50.

TechTarget Stock Performance

Shares of NASDAQ TTGT opened at $3.62 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.23. TechTarget, Inc. has a 12 month low of $3.41 and a 12 month high of $9.00. The stock has a 50 day moving average of $4.75 and a 200-day moving average of $4.79. The company has a market capitalization of $261.73 million, a P/E ratio of -0.47 and a beta of 1.13.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Thursday, May 7th. The information services provider reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.59). TechTarget had a positive return on equity of 5.19% and a negative net margin of 113.65%.The business had revenue of $106.05 million for the quarter, compared to the consensus estimate of $104.93 million.

TechTarget Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.