Rice Hall James & Associates LLC Purchases 412,584 Shares of TechTarget, Inc. $TTGT

Key Points

• Rice Hall James & Associates LLC increased its TechTarget stake by 23.6% in the first quarter, buying 412,584 shares and bringing its total holdings to 2,158,390 shares, or about 2.99% of the company.
• TechTarget shares were down 4.5% and traded near $3.40, close to its 52-week low of $3.38. The stock has a market cap of about $245.8 million and remains below both its 50-day and 200-day moving averages.
• The company posted a wider-than-expected quarterly loss of $0.98 per share, missing estimates, though revenue of $106.05 million slightly beat forecasts. Analyst sentiment is mixed, with a consensus rating of Hold and a price target of $11.50.

Rice Hall James & Associates LLC lifted its holdings in TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 23.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,158,390 shares of the information services provider's stock after acquiring an additional 412,584 shares during the quarter. Rice Hall James & Associates LLC owned approximately 2.99% of TechTarget worth $8,375,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TTGT. Geode Capital Management LLC increased its stake in shares of TechTarget by 0.7% in the second quarter. Geode Capital Management LLC now owns 688,593 shares of the information services provider's stock valued at $5,351,000 after buying an additional 4,953 shares in the last quarter. Rhumbline Advisers grew its holdings in TechTarget by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 81,924 shares of the information services provider's stock worth $637,000 after acquiring an additional 6,077 shares during the last quarter. Quantbot Technologies LP bought a new stake in TechTarget during the 2nd quarter worth about $209,000. Invesco Ltd. grew its holdings in TechTarget by 52.9% during the 2nd quarter. Invesco Ltd. now owns 67,055 shares of the information services provider's stock worth $521,000 after acquiring an additional 23,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in TechTarget in the 2nd quarter valued at about $81,000. 93.52% of the stock is currently owned by institutional investors.

TechTarget Stock Down 4.5%

Shares of NASDAQ:TTGT opened at $3.40 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $245.82 million, a price-to-earnings ratio of -0.44 and a beta of 1.14. The company has a 50 day moving average of $3.99 and a 200-day moving average of $4.47. TechTarget, Inc. has a one year low of $3.38 and a one year high of $8.81.

TechTarget (NASDAQ:TTGT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The information services provider reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.59). TechTarget had a negative net margin of 113.65% and a positive return on equity of 5.19%. The business had revenue of $106.05 million during the quarter, compared to analyst estimates of $104.93 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of TechTarget in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.50.

TechTarget Company Profile

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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