Impax Asset Management Group plc Buys 350,000 Shares of TechTarget, Inc. $TTGT

Key Points

• Impax Asset Management Group plc raised its stake in TechTarget by 39.4%, buying 350,000 shares to own 1,238,887 shares (about 1.72% of the company) valued at roughly $6.69 million per its latest 13F filing.
• TechTarget reported a quarterly loss of ($0.13) EPS, missing estimates of $0.35 and posting a deeply negative net margin (−207.13%), while revenue of $140.68 million was roughly in line with expectations.
• Analyst coverage is mixed (three Buys, two Sells) yielding a MarketBeat consensus of Hold with an average price target of $10.75, while the stock trades around $5.65 and has a market cap near $408 million.

Impax Asset Management Group plc raised its stake in TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,238,887 shares of the information services provider's stock after acquiring an additional 350,000 shares during the period. Impax Asset Management Group plc owned approximately 1.72% of TechTarget worth $6,690,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. CWM LLC increased its holdings in TechTarget by 454.8% in the 4th quarter. CWM LLC now owns 10,664 shares of the information services provider's stock valued at $58,000 after acquiring an additional 8,742 shares during the last quarter. Quotient Wealth Partners LLC bought a new stake in TechTarget in the 4th quarter valued at $59,000. Worth Venture Partners LLC increased its holdings in TechTarget by 78.7% in the 3rd quarter. Worth Venture Partners LLC now owns 75,327 shares of the information services provider's stock valued at $438,000 after acquiring an additional 33,165 shares during the last quarter. Millennium Management LLC increased its holdings in TechTarget by 1,881.8% in the 3rd quarter. Millennium Management LLC now owns 1,242,193 shares of the information services provider's stock valued at $7,217,000 after acquiring an additional 1,179,513 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in TechTarget in the 3rd quarter valued at $192,000. 93.52% of the stock is currently owned by institutional investors.

TechTarget Stock Performance

Shares of NASDAQ:TTGT opened at $5.65 on Friday. TechTarget, Inc. has a 52 week low of $3.41 and a 52 week high of $9.47. The stock has a market capitalization of $408.46 million, a P/E ratio of -0.40 and a beta of 0.91. The firm has a fifty day simple moving average of $4.13 and a two-hundred day simple moving average of $4.91. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its quarterly earnings data on Wednesday, March 11th. The information services provider reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.48). TechTarget had a negative return on equity of 14.62% and a negative net margin of 207.13%.The business had revenue of $140.68 million during the quarter, compared to analysts' expectations of $140.91 million.

Analysts Set New Price Targets

TTGT has been the topic of a number of research reports. Needham & Company LLC reiterated a "buy" rating on shares of TechTarget in a report on Thursday, March 12th. Wall Street Zen raised shares of TechTarget from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Lake Street Capital dropped their price objective on shares of TechTarget from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, March 12th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of TechTarget in a research note on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.75.

About TechTarget

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.

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