Nuveen LLC Makes New $1.57 Million Investment in TechTarget, Inc. $TTGT

Key Points

• Nuveen LLC has acquired a new stake in TechTarget, purchasing 105,737 shares valued at approximately $1.57 million, indicating institutional confidence in the company.
• TechTarget's shares opened at $5.90, with a market capitalization of $421.79 million and a recent earnings per share report of $0.29, surpassing analyst expectations.
• Recent analyst ratings show mixed sentiments, with consensus ratings leaning towards "Moderate Buy," while some firms have lowered their price targets significantly.

Nuveen LLC acquired a new position in TechTarget, Inc. (NASDAQ:TTGT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 105,737 shares of the information services provider's stock, valued at approximately $1,566,000. Nuveen LLC owned 0.36% of TechTarget at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TTGT. Vanguard Group Inc. lifted its position in shares of TechTarget by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,923,408 shares of the information services provider's stock worth $28,486,000 after buying an additional 18,603 shares during the last quarter. Royal Bank of Canada boosted its stake in TechTarget by 30.3% in 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. Dimensional Fund Advisors LP raised its position in shares of TechTarget by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider's stock worth $15,977,000 after purchasing an additional 11,646 shares during the period. Impax Asset Management Group plc raised its position in shares of TechTarget by 23.5% during 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 purchasing an additional 100,000 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of TechTarget by 35.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 395,134 shares of the information services provider's stock worth $5,852,000 after purchasing an additional 102,716 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TTGT shares. Needham & Company LLC restated a "buy" rating and set a $15.00 price objective on shares of TechTarget in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. cut shares of TechTarget from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $18.00 to $8.00 in a report on Tuesday, June 10th. Craig Hallum began coverage on shares of TechTarget in a research note on Monday, June 9th. They set a "buy" rating and a $12.00 target price for the company. Lake Street Capital decreased their target price on shares of TechTarget from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Finally, Wall Street Zen lowered shares of TechTarget from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.40.

TechTarget Price Performance

Shares of TechTarget stock traded down $0.03 during trading on Wednesday, hitting $5.61. The stock had a trading volume of 370,589 shares, compared to its average volume of 393,046. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $401.06 million, a P/E ratio of -13.36 and a beta of 0.93. The business has a fifty day moving average of $6.87 and a two-hundred day moving average of $9.00. TechTarget, Inc. has a fifty-two week low of $5.39 and a fifty-two 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $106.19 million. On average, sell-side analysts expect that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TechTarget news, CFO Daniel T. Noreck sold 8,459 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $5.99, for a total value of $50,669.41. Following the transaction, the chief financial officer owned 71,519 shares of the company's stock, valued at approximately $428,398.81. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.92% of the company's stock.

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.