TechTarget (NASDAQ:TTGT) Stock: Insider William Thomas Morelli Sells 2,809 Shares

TechTarget, Inc. (NASDAQ:TTGT) President William Thomas Morelli sold 2,809 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $3.74, for a total value of $10,505.66. Following the completion of the transaction, the president directly owned 8,288 shares in the company, valued at approximately $30,997.12. This represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

TechTarget Stock Performance

Shares of TTGT traded down $0.02 during midday trading on Thursday, reaching $3.75. 289,850 shares of the stock were exchanged, compared to its average volume of 435,748. The stock’s 50 day simple moving average is $3.92 and its 200 day simple moving average is $4.17. The company has a market cap of $271.25 million, a P/E ratio of -1.53 and a beta of 1.08. TechTarget, Inc. has a twelve month low of $3.37 and a twelve month high of $6.70. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.24.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Thursday, August 6th. The information services provider reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.09). The business 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%.

Institutional Investors Weigh In On TechTarget

A number of large investors have recently bought and sold shares of TTGT. Cetera Investment Advisers increased its stake in TechTarget by 11.0% in the first quarter. Cetera Investment Advisers now owns 45,020 shares of the information services provider’s stock valued at $175,000 after acquiring an additional 4,452 shares during the last quarter. Legato Capital Management LLC lifted its stake in TechTarget by 39.7% during the fourth quarter. Legato Capital Management LLC now owns 21,553 shares of the information services provider’s stock worth $116,000 after purchasing an additional 6,125 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of TechTarget by 43.8% in the 1st quarter. Sei Investments Co. now owns 36,108 shares of the information services provider’s stock valued at $140,000 after purchasing an additional 10,994 shares in the last quarter. Corient Private Wealth LP bought a new position in shares of TechTarget in the 2nd quarter valued at $48,000. Finally, Alpine Global Management LLC acquired a new position in shares of TechTarget during the 4th quarter worth $93,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TTGT. Weiss Ratings reissued a “sell (e+)” rating on shares of TechTarget in a research report on Friday, July 17th. Needham & Company LLC dropped their price objective on TechTarget from $15.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.00.

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.