TechTarget, Inc. $TTGT Stock Holdings Increased by Trigran Investments Inc.

Key Points

• Trigran Investments Inc. has increased its stake in TechTarget, Inc. by 20.4%, making it the firm's second-largest holding at 9.9% of the company's total investments.
• Several analysts have downgraded TechTarget's stock, with JPMorgan Chase reducing its rating to "underweight" and lowering the price target significantly from $18.00 to $8.00.
• TechTarget reported a quarterly earnings per share (EPS) of $0.29, beating the consensus estimate and achieving revenues of $119.94 million, exceeding analyst expectations.

Trigran Investments Inc. lifted its stake in TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 20.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,526,836 shares of the information services provider's stock after purchasing an additional 767,327 shares during the period. TechTarget accounts for approximately 9.9% of Trigran Investments Inc.'s holdings, making the stock its 2nd largest position. Trigran Investments Inc. owned about 15.48% of TechTarget worth $67,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TTGT. Raymond James Financial Inc. lifted its position in shares of TechTarget by 1,840.5% during the 1st quarter. Raymond James Financial Inc. now owns 461,691 shares of the information services provider's stock valued at $6,838,000 after buying an additional 437,899 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of TechTarget during the 1st quarter valued at about $3,921,000. Royal Bank of Canada lifted its holdings in TechTarget by 30.3% during 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 purchasing an additional 227,459 shares in the last quarter. Nuveen LLC purchased a new position in TechTarget during the first quarter valued at approximately $1,566,000. Finally, Envestnet Asset Management Inc. lifted its holdings in TechTarget by 35.1% during the first quarter. Envestnet Asset Management Inc. now owns 395,134 shares of the information services provider's stock valued at $5,852,000 after purchasing an additional 102,716 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TTGT has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price target on shares of TechTarget in a report on Wednesday, July 2nd. 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 report on Tuesday, June 17th. Wall Street Zen downgraded shares of TechTarget from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. JPMorgan Chase & Co. downgraded shares of TechTarget from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $18.00 to $8.00 in a report on Tuesday, June 10th. Finally, Craig Hallum initiated coverage on shares of TechTarget in a report on Monday, June 9th. They set a "buy" rating and a $12.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, TechTarget presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.40.

TechTarget Price Performance

TTGT traded up $0.3420 during trading on Friday, reaching $6.3620. 352,351 shares of the company traded hands, compared to its average volume of 380,329. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. TechTarget, Inc. has a 12-month low of $5.55 and a 12-month high of $33.08. The firm has a fifty day simple moving average of $7.02 and a 200 day simple moving average of $9.68. The company has a market cap of $454.82 million, a P/E ratio of -15.13 and a beta of 0.96.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $119.94 million during the quarter, compared to analyst estimates of $106.19 million. On average, equities analysts forecast that TechTarget, Inc. will post -0.46 EPS 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.