Goldman Sachs Group Inc. Sells 87,792 Shares of TechTarget, Inc. $TTGT

Goldman Sachs Group Inc. cut its stake in shares of TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 60.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,816 shares of the information services provider's stock after selling 87,792 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.08% of TechTarget worth $856,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Trigran Investments Inc. lifted its holdings in shares of TechTarget by 20.4% during the first quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider's stock valued at $67,042,000 after acquiring an additional 767,327 shares during the period. Vanguard Group Inc. lifted its holdings in shares of TechTarget by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,923,408 shares of the information services provider's stock valued at $28,486,000 after acquiring an additional 18,603 shares during the period. Royal Bank of Canada lifted its holdings in shares of TechTarget by 30.3% during the fourth 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. Earnest Partners LLC lifted its holdings in shares of TechTarget by 41.3% during the first quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider's stock valued at $10,166,000 after acquiring an additional 200,495 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in shares of TechTarget by 23.5% during the first quarter. Impax Asset Management Group plc now owns 526,387 shares of the information services provider's stock valued at $7,796,000 after acquiring an additional 100,000 shares during the period. 93.52% of the stock is owned by institutional investors.

TechTarget Trading Up 1.9%

NASDAQ TTGT opened at $6.86 on Tuesday. The stock has a market capitalization of $490.42 million, a price-to-earnings ratio of -16.33 and a beta of 0.93. The stock's 50 day moving average price is $6.61 and its two-hundred day moving average price is $8.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. TechTarget, Inc. has a 52 week low of $5.39 and a 52 week high of $33.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its earnings results on Tuesday, August 12th. The information services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.12 by $0.17. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%.The firm had revenue of $119.94 million for the quarter, compared to analysts' expectations of $106.19 million. As a group, analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TechTarget news, Director David J. S. Flaschen bought 20,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average cost of $5.97 per share, with a total value of $119,400.00. Following the acquisition, the director owned 20,000 shares of the company's stock, valued at $119,400. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel T. Noreck sold 8,459 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $5.99, for a total value of $50,669.41. Following the completion of the transaction, the chief financial officer directly owned 71,519 shares in the company, valued at approximately $428,398.81. This represents a 10.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TTGT. Craig Hallum initiated coverage on TechTarget in a report on Monday, June 9th. They set a "buy" rating and a $12.00 price objective for the company. Lake Street Capital cut their price target on TechTarget from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price target on shares of TechTarget in a report on Wednesday, July 2nd. JPMorgan Chase & Co. lowered 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 research report on Tuesday, June 10th. Finally, Wall Street Zen lowered TechTarget from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $16.40.

TechTarget Company 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.

Want to see what other hedge funds are holding TTGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechTarget, Inc. (NASDAQ:TTGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.