TechTarget, Inc. $TTGT Stock Holdings Increased by Raymond James Financial Inc.

Raymond James Financial Inc. raised its stake in shares of TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 1,840.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 461,691 shares of the information services provider's stock after acquiring an additional 437,899 shares during the quarter. Raymond James Financial Inc. owned approximately 1.58% of TechTarget worth $6,838,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in TechTarget by 18.7% during 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 acquiring an additional 1,541 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in TechTarget during the 1st quarter valued at $190,000. Boston Partners bought a new position in TechTarget during the 1st quarter valued at $202,000. State of Tennessee Department of Treasury boosted its stake in 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 valued at $239,000 after acquiring an additional 910 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in TechTarget during the 1st quarter valued at $246,000. 93.52% of the stock is currently owned by institutional investors.

TechTarget Price Performance

Shares of NASDAQ:TTGT traded up $0.12 during trading hours on Thursday, hitting $5.65. 472,521 shares of the company's stock traded hands, compared to its average volume of 626,354. TechTarget, Inc. has a 52 week low of $5.39 and a 52 week high of $33.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. The company's fifty day simple moving average is $6.81 and its two-hundred day simple moving average is $8.91. The company has a market cap of $403.92 million, a price-to-earnings ratio of -13.45 and a beta of 0.93.

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

Insider Buying and Selling

In other TechTarget news, CFO Daniel T. Noreck sold 8,459 shares of the company's stock in a transaction dated 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 directly 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 available through this hyperlink. Corporate insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

TTGT has been the topic of a number of research reports. Lake Street Capital dropped their price target on TechTarget from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. JPMorgan Chase & Co. lowered shares of TechTarget from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price objective on shares of TechTarget in a report on Wednesday, July 2nd. Craig Hallum started 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. Finally, Wall Street Zen cut shares of TechTarget from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, TechTarget presently has an average rating of "Moderate Buy" and an average target price of $16.40.

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.