TechTarget (NASDAQ:TTGT) Stock Crosses Above 50-Day Moving Average – Time to Sell?

TechTarget, Inc. (NASDAQ:TTGT) shares crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $3.82 and traded as high as $3.93. TechTarget shares last traded at $3.89, with a volume of 496,552 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of TechTarget in a report on Thursday, October 15th. Needham & Company LLC decreased their target price on shares of TechTarget from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, TechTarget currently has an average rating of “Hold” and an average target price of $8.00.

TechTarget Trading Down 9.3%

The firm has a market cap of $255.34 million, a price-to-earnings ratio of -1.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.15. The company has a 50 day moving average price of $3.81 and a 200 day moving average price of $4.24.

TechTarget (NASDAQ:TTGT) last posted its 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 company had revenue of $116.15 million during the quarter, compared to analyst estimates of $119.55 million. TechTarget had a negative net margin of 36.85% and a negative return on equity of 0.62%.

Insider Activity

In other news, CEO Gary Nugent sold 12,608 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $3.74, for a total value of $47,153.92. Following the completion of the transaction, the chief executive officer owned 25,758 shares of the company’s stock, valued at approximately $96,334.92. This trade represents a 32.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 25,939 shares of company stock worth $97,631 over the last 90 days. 0.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently modified their holdings of TTGT. Corient Private Wealth LP acquired a new position in TechTarget during the second quarter worth approximately $48,000. Simplicity Wealth LLC acquired a new stake in TechTarget during the 3rd quarter worth $55,000. Sei Investments Co. grew its position in TechTarget by 43.8% during the 1st quarter. Sei Investments Co. now owns 36,108 shares of the information services provider’s stock worth $140,000 after purchasing an additional 10,994 shares during the last quarter. Cetera Investment Advisers grew its position in TechTarget by 11.0% during the 1st quarter. Cetera Investment Advisers now owns 45,020 shares of the information services provider’s stock worth $175,000 after purchasing an additional 4,452 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in TechTarget in the second quarter valued at $420,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

About TechTarget

TechTarget, Inc is a business-to-business technology marketing and data company that helps technology vendors identify, reach and engage potential customers. Its platform uses research and content-consumption signals to provide insights into organizations that are actively evaluating technology products and services.

The company offers purchase-intent data, lead-generation programs, digital advertising, content marketing and sales-enablement services. Its products and services are designed to support technology companies throughout the buying process, from building awareness and generating demand to identifying prospective accounts and helping sales teams prioritize outreach.

TechTarget was founded in 1999 and is headquartered in Newton, Massachusetts.