TechTarget, Inc. (NASDAQ:TTGT) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 35.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,134 shares of the information services provider's stock after acquiring an additional 102,716 shares during the quarter. Envestnet Asset Management Inc. owned about 1.35% of TechTarget worth $5,852,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of TechTarget during the first quarter valued at about $3,921,000. Royal Bank of Canada increased its position in shares of TechTarget by 30.3% in the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider's stock valued at $19,380,000 after acquiring an additional 227,459 shares during the period. Advisory Research Inc. purchased a new position in TechTarget in the 4th quarter worth $2,364,000. Impax Asset Management Group plc raised its stake in TechTarget by 23.5% in the 1st quarter. Impax Asset Management Group plc now owns 526,387 shares of the information services provider's stock worth $7,796,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of TechTarget in the fourth quarter valued at about $1,364,000. Institutional investors own 93.52% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TTGT. JPMorgan Chase & Co. cut TechTarget from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $18.00 to $8.00 in a report on Tuesday, June 10th. Wall Street Zen upgraded shares of TechTarget from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Craig Hallum initiated coverage on shares of TechTarget in a report on Monday, June 9th. They issued a "buy" rating and a $12.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price target on shares of TechTarget in a research note on Wednesday, July 2nd. Finally, Lake Street Capital decreased their target price on shares of TechTarget from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, TechTarget currently has a consensus rating of "Hold" and an average target price of $19.33.

TechTarget Stock Down 1.5%

Shares of TTGT traded down $0.13 during mid-day trading on Friday, hitting $8.57. 408,394 shares of the company's stock were exchanged, compared to its average volume of 587,172. The company has a market cap of $612.66 million, a price-to-earnings ratio of -20.40 and a beta of 1.02. TechTarget, Inc. has a fifty-two week low of $6.49 and a fifty-two week high of $33.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.95. The stock's 50-day moving average is $7.38 and its 200-day moving average is $11.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its quarterly earnings results on Monday, July 14th. The information services provider reported ($2.24) earnings per share (EPS) for the quarter. TechTarget had a negative return on equity of 31.98% and a negative net margin of 188.03%. The firm had revenue of $103.89 million for the quarter. On average, sell-side analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.

About TechTarget

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.