Los Angeles Capital Management LLC Makes New Investment in TechTarget, Inc. $TTGT

Los Angeles Capital Management LLC acquired a new stake in TechTarget, Inc. (NASDAQ:TTGT) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,580 shares of the information services provider’s stock, valued at approximately $90,000.

Several other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of TechTarget by 35.1% during the first quarter. Envestnet Asset Management Inc. now owns 395,134 shares of the information services provider’s stock worth $5,852,000 after purchasing an additional 102,716 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of TechTarget during the 1st quarter worth about $190,000. Allianz Asset Management GmbH purchased a new position in shares of TechTarget in the 1st quarter valued at about $246,000. Avantax Advisory Services Inc. raised its position in shares of TechTarget by 54.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 53,313 shares of the information services provider’s stock worth $790,000 after acquiring an additional 18,901 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of TechTarget by 18.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider’s stock worth $145,000 after acquiring an additional 1,541 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $4.89 on Wednesday. The stock has a market cap of $352.85 million, a P/E ratio of -2.66 and a beta of 1.01. TechTarget, Inc. has a twelve month low of $4.63 and a twelve month high of $33.08. The stock has a 50 day moving average of $5.71 and a two-hundred day moving average of $6.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling at TechTarget

In other TechTarget news, Director David J. S. Flaschen purchased 20,000 shares of TechTarget stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $5.97 per share, for a total transaction of $119,400.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at $119,400. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daniel T. Noreck sold 8,459 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $5.99, for a total transaction of $50,669.41. Following the transaction, the chief financial officer directly owned 71,519 shares in the company, valued at $428,398.81. The trade was a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TTGT has been the subject of a number of research analyst reports. Wall Street Zen downgraded TechTarget from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of TechTarget in a report on Wednesday, October 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of TechTarget in a research note on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.25.

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.