Zurcher Kantonalbank Zurich Cantonalbank Has $264,000 Position in TechTarget, Inc. (NASDAQ:TTGT)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 46.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,564 shares of the information services provider’s stock after selling 6,470 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TechTarget were worth $264,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in TechTarget by 16.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock worth $80,000 after acquiring an additional 367 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of TechTarget in the third quarter valued at about $220,000. Caxton Associates LP raised its holdings in shares of TechTarget by 26.5% in the third quarter. Caxton Associates LP now owns 8,730 shares of the information services provider’s stock valued at $265,000 after buying an additional 1,827 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of TechTarget in the third quarter valued at about $323,000. Finally, Hsbc Holdings PLC bought a new position in shares of TechTarget in the third quarter valued at about $363,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James lifted their price target on TechTarget from $31.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of TechTarget in a research report on Thursday, February 8th. KeyCorp lowered their price objective on TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. TheStreet lowered TechTarget from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Finally, UBS Group upgraded TechTarget from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $45.00 in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, TechTarget presently has a consensus rating of “Hold” and an average target price of $40.33.

TechTarget Price Performance

Shares of TTGT opened at $28.00 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 10.04 and a current ratio of 10.04. The stock has a 50 day simple moving average of $30.24 and a 200 day simple moving average of $31.13. TechTarget, Inc. has a 52-week low of $23.43 and a 52-week high of $41.93. The firm has a market capitalization of $799.40 million, a PE ratio of 175.01, a P/E/G ratio of 8.35 and a beta of 0.99.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. The business had revenue of $57.29 million during the quarter, compared to analyst estimates of $56.73 million. Sell-side analysts predict that TechTarget, Inc. will post 0.62 EPS for the current fiscal year.

Insider Activity at TechTarget

In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the transaction, the chief operating officer now owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Rebecca Kitchens sold 13,666 shares of TechTarget stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the transaction, the president now owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $438,177.60. Following the completion of the sale, the chief operating officer now directly owns 40,755 shares in the company, valued at $1,312,311. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

TechTarget Profile

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.