Insider Selling: TechTarget (NASDAQ:TTGT) CFO Sells $21,687.05 in Stock

TechTarget, Inc. (NASDAQ:TTGT) CFO Daniel Noreck sold 5,633 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $3.85, for a total transaction of $21,687.05. Following the completion of the transaction, the chief financial officer directly owned 85,480 shares of the company’s stock, valued at approximately $329,098. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

TechTarget Stock Up 0.8%

Shares of TechTarget stock opened at $3.91 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.15. TechTarget, Inc. has a 52-week low of $3.37 and a 52-week high of $7.15. The business’s 50 day simple moving average is $3.89 and its 200 day simple moving average is $4.24. The firm has a market cap of $282.82 million, a PE ratio of -1.60 and a beta of 1.12.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data 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 analyst estimates of $119.55 million. TechTarget had a negative return on equity of 0.62% and a negative net margin of 36.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC grew its holdings in TechTarget by 14.6% in the fourth quarter. MetLife Investment Management LLC now owns 17,675 shares of the information services provider’s stock worth $95,000 after purchasing an additional 2,247 shares during the period. BNP Paribas Financial Markets grew its holdings in TechTarget by 103.5% during the third quarter. BNP Paribas Financial Markets now owns 5,658 shares of the information services provider’s stock worth $33,000 after buying an additional 2,877 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of 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 purchasing an additional 4,452 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of TechTarget by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 688,593 shares of the information services provider’s stock worth $5,351,000 after buying an additional 4,953 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in TechTarget by 8.0% in the second quarter. Rhumbline Advisers now owns 81,924 shares of the information services provider’s stock worth $637,000 after purchasing an additional 6,077 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TechTarget in a report on Friday, July 17th. Needham & Company LLC lowered their price target 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 given a Sell rating to the company. According to data from MarketBeat, TechTarget has a consensus rating of “Hold” and a consensus price target of $8.00.

TechTarget Company 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.