TechTarget, Inc. (NASDAQ:TTGT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in shares of TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 18.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 697,362 shares of the information services provider's stock after selling 153,261 shares during the period. Bank of America Corp DE owned about 2.38% of TechTarget worth $13,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. KBC Group NV raised its position in shares of TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider's stock worth $43,000 after purchasing an additional 962 shares during the last quarter. MeadowBrook Investment Advisors LLC increased its stake in TechTarget by 26.4% during the 4th quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider's stock worth $169,000 after buying an additional 1,780 shares in the last quarter. Rhumbline Advisers increased its stake in TechTarget by 2.7% during the 4th quarter. Rhumbline Advisers now owns 74,980 shares of the information services provider's stock worth $1,486,000 after buying an additional 1,994 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of TechTarget by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 128,412 shares of the information services provider's stock valued at $2,545,000 after acquiring an additional 6,577 shares during the last quarter. Finally, Acuitas Investments LLC lifted its position in shares of TechTarget by 29.5% in the fourth quarter. Acuitas Investments LLC now owns 36,332 shares of the information services provider's stock valued at $720,000 after acquiring an additional 8,271 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TTGT has been the subject of several recent research reports. Lake Street Capital reduced their price objective on TechTarget from $24.00 to $12.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Raymond James lowered shares of TechTarget from an "outperform" rating to a "market perform" rating in a report on Tuesday, February 11th. Needham & Company LLC decreased their price target on shares of TechTarget from $40.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Wall Street Zen upgraded shares of TechTarget from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.17.

TechTarget Trading Down 3.9%

Shares of TTGT traded down $0.29 during midday trading on Tuesday, reaching $7.16. The company had a trading volume of 412,287 shares, compared to its average volume of 201,214. TechTarget, Inc. has a 1-year low of $6.95 and a 1-year high of $35.11. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a 50 day simple moving average of $9.24 and a 200-day simple moving average of $16.28. The stock has a market cap of $209.32 million, a PE ratio of -17.05, a price-to-earnings-growth ratio of 113.92 and a beta of 1.10.

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.