Insider Selling: TechTarget (NASDAQ:TTGT) CFO Sells 4,889 Shares of Stock

Key Points

• TechTarget CFO Daniel Noreck sold 4,889 shares at an average price of $3.74, generating $18,284.86 and reducing his direct holdings by 4.82% to 96,626 shares.
• TechTarget shares recently traded near $3.75, close to their 12-month low of $3.37, after the company reported a quarterly loss of $0.30 per share and revenue below analyst expectations.
• Analyst sentiment is mixed, with two Buy ratings and one Sell rating producing an overall “Hold” consensus and an average price target of $8.00; institutional investors own 93.52% of the stock.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) CFO Daniel Noreck sold 4,889 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $3.74, for a total value of $18,284.86. Following the sale, the chief financial officer directly owned 96,626 shares in the company, valued at approximately $361,381.24. The trade was a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TechTarget Trading Down 0.5%

NASDAQ:TTGT traded down $0.02 on Thursday, reaching $3.75. The stock had a trading volume of 289,850 shares, compared to its average volume of 435,748. TechTarget, Inc. has a 12-month low of $3.37 and a 12-month high of $6.70. The company has a market cap of $271.25 million, a price-to-earnings ratio of -1.53 and a beta of 1.08. The firm's fifty day moving average is $3.92 and its two-hundred day moving average is $4.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.15 and a quick ratio of 1.15.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The information services provider reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.09). TechTarget had a negative net margin of 36.85% and a negative return on equity of 0.62%. The firm had revenue of $116.15 million during the quarter, compared to analyst estimates of $119.55 million.

Hedge Funds Weigh In On TechTarget

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP acquired a new position in TechTarget during the second quarter worth approximately $48,000. Alpine Global Management LLC acquired a new position in shares of TechTarget in the 4th quarter valued at $93,000. Legato Capital Management LLC grew its stake in shares of TechTarget by 39.7% during the 4th quarter. Legato Capital Management LLC now owns 21,553 shares of the information services provider's stock valued at $116,000 after buying an additional 6,125 shares during the period. Sei Investments Co. grew its stake in shares of TechTarget by 43.8% during the 1st quarter. Sei Investments Co. now owns 36,108 shares of the information services provider's stock valued at $140,000 after buying an additional 10,994 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of TechTarget by 11.0% in the 1st quarter. Cetera Investment Advisers now owns 45,020 shares of the information services provider's stock worth $175,000 after buying an additional 4,452 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Needham & Company LLC decreased their price objective on TechTarget from $15.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of TechTarget in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.00.

TechTarget Company Profile

TechTarget, Inc is a business-to-business technology marketing and data company that operates the Informa TechTarget platform. The company helps technology vendors and service providers identify prospective customers, understand their research interests and purchasing activity, and engage with decision-makers throughout the buying process.

Its offerings include high-intent purchase data, account and audience intelligence, digital marketing solutions, demand-generation programs, content creation, lead generation, and research and advisory services.

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