105,737 Shares in TechTarget, Inc. $TTGT Acquired by Nuveen LLC

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 bought a new stake in TechTarget, Inc. (NASDAQ:TTGT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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.

A number of other institutional investors have also modified their holdings of TTGT. PNC Financial Services Group Inc. increased its stake in TechTarget by 18.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider's stock valued at $145,000 after buying an additional 1,541 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of TechTarget during the 1st quarter worth $190,000. State of Tennessee Department of Treasury grew its stake in shares of TechTarget by 8.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider's stock worth $239,000 after purchasing an additional 910 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of TechTarget during the 1st quarter worth $246,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of TechTarget by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider's stock worth $295,000 after purchasing an additional 698 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at TechTarget

In related news, CFO Daniel T. Noreck sold 8,459 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $5.99, for a total transaction of $50,669.41. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.92% of the company's stock.

TechTarget Trading Up 2.2%

Shares of TTGT stock traded up $0.12 during trading hours on Thursday, hitting $5.65. 472,521 shares of the company were exchanged, compared to its average volume of 626,354. The firm has a market cap of $403.92 million, a PE ratio of -13.45 and a beta of 0.93. TechTarget, Inc. has a 1 year low of $5.39 and a 1 year high of $33.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $6.81 and a 200 day moving average of $8.91.

TechTarget (NASDAQ:TTGT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.17. The business had revenue of $119.94 million for the quarter, compared to analyst estimates of $106.19 million. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. Analysts expect that TechTarget, Inc. will post -0.46 earnings per share for the current year.

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.