Goldman Sachs Group Inc. Has $184,000 Position in TechTarget, Inc. (TTGT)
Goldman Sachs Group Inc. increased its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 14.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,754 shares of the information services provider’s stock after buying an additional 2,303 shares during the quarter. Goldman Sachs Group Inc. owned about 0.06% of TechTarget worth $184,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in TechTarget by 457.3% during the second quarter. JPMorgan Chase & Co. now owns 60,266 shares of the information services provider’s stock worth $625,000 after buying an additional 49,452 shares in the last quarter. Trigran Investments Inc. boosted its holdings in shares of TechTarget by 0.7% in the 2nd quarter. Trigran Investments Inc. now owns 2,647,656 shares of the information services provider’s stock valued at $27,456,000 after purchasing an additional 19,425 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TechTarget by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 576,669 shares of the information services provider’s stock valued at $5,207,000 after purchasing an additional 21,785 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of TechTarget in the 2nd quarter valued at $545,000. Finally, Geode Capital Management LLC boosted its holdings in shares of TechTarget by 7.8% in the 1st quarter. Geode Capital Management LLC now owns 133,913 shares of the information services provider’s stock valued at $1,209,000 after purchasing an additional 9,665 shares in the last quarter. 56.19% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Nine Ten Partners Lp sold 47,945 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $11.04, for a total transaction of $529,312.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Leonard P. Forman sold 5,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $13.38, for a total value of $66,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,890 shares of company stock worth $2,106,487. 30.19% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on TTGT. Jefferies Group LLC downgraded TechTarget from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a report on Thursday, August 17th. BidaskClub downgraded TechTarget from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. ValuEngine raised TechTarget from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price (up previously from $11.00) on shares of TechTarget in a report on Tuesday, October 3rd. Finally, Zacks Investment Research raised TechTarget from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.00.
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Shares of TechTarget, Inc. (NASDAQ TTGT) opened at $13.55 on Wednesday. The firm has a market capitalization of $373.67, a price-to-earnings ratio of 112.83, a price-to-earnings-growth ratio of 3.38 and a beta of 1.36. TechTarget, Inc. has a twelve month low of $7.97 and a twelve month high of $13.61. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.21.
TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. TechTarget had a return on equity of 3.01% and a net margin of 3.33%. The firm had revenue of $28.01 million for the quarter, compared to the consensus estimate of $28.34 million. During the same quarter last year, the business posted $0.07 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. equities research analysts expect that TechTarget, Inc. will post 0.2 earnings per share for the current year.
TechTarget Company Profile
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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