Zions Bancorporation National Association UT Takes $893,000 Position in TechTarget, Inc. (NASDAQ:TTGT)

Key Points

• Zions Bancorporation National Association UT has acquired approximately 60,319 shares of TechTarget, Inc. (NASDAQ: TTGT) valued at about $893,000, representing a 0.21% stake in the company.
• Despite recent interest from institutional investors such as PNC Financial Services and Louisiana State Employees Retirement System, TechTarget's stock is currently down by 2.2% and trades at $6.33.
• Analysts have mixed ratings for TechTarget, with a consensus rating of "Hold" and an average target price of $19.33, despite some price cuts from analysts like JPMorgan Chase.

Zions Bancorporation National Association UT acquired a new stake in TechTarget, Inc. (NASDAQ:TTGT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 60,319 shares of the information services provider's stock, valued at approximately $893,000. Zions Bancorporation National Association UT owned approximately 0.21% of TechTarget as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in TTGT. PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 1,541 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in TechTarget during the 1st quarter valued at $190,000. State of Tennessee Department of Treasury boosted its position 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 buying an additional 910 shares during the period. Allianz Asset Management GmbH purchased a new stake in TechTarget during the 1st quarter valued at $246,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $295,000 after buying an additional 698 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Craig Hallum assumed coverage on shares of TechTarget in a research report on Monday, June 9th. They set a "buy" rating and a $12.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 target price on shares of TechTarget in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. cut shares of TechTarget from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. Wall Street Zen raised shares of TechTarget from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Lake Street Capital dropped 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, TechTarget has a consensus rating of "Hold" and an average target price of $19.33.

TechTarget Stock Down 2.2%

Shares of TechTarget stock opened at $6.33 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day moving average of $7.28 and a 200 day moving average of $10.34. The firm has a market cap of $452.53 million, a price-to-earnings ratio of -15.07 and a beta of 0.96. TechTarget, Inc. has a 1 year low of $6.21 and a 1 year high of $33.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its quarterly earnings data on Monday, July 14th. The information services provider reported ($2.24) earnings per share for the quarter. The firm had revenue of $103.89 million for the quarter. TechTarget had a negative net margin of 188.03% and a negative return on equity of 31.98%. As a group, sell-side analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.

TechTarget Company 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.

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