TechTarget (NASDAQ:TTGT) CFO Daniel Noreck Sells 5,633 Shares

Key Points

• TechTarget CFO Daniel Noreck sold 5,633 shares at an average price of $3.85, totaling $21,687.05. His remaining direct ownership fell 6.18% to 85,480 shares.
• TechTarget’s latest quarter missed expectations, reporting an adjusted loss of $0.30 per share versus the $0.21 consensus estimate and revenue of $116.15 million versus $119.55 million expected.
• The stock traded near $3.89, close to its 52-week low, while analysts’ consensus rating remained Hold with an average price target of $8.00; institutional investors own 93.52% of shares.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) CFO Daniel Noreck sold 5,633 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $3.85, for a total transaction of $21,687.05. Following the transaction, the chief financial officer directly owned 85,480 shares of the company's stock, valued at $329,098. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

TechTarget Stock Performance

NASDAQ TTGT traded up $0.07 on Tuesday, hitting $3.89. 262,000 shares of the stock traded hands, compared to its average volume of 456,663. The business's fifty day moving average is $3.87 and its two-hundred day moving average is $4.27. TechTarget, Inc. has a 12 month low of $3.37 and a 12 month high of $7.15. The firm has a market capitalization of $281.38 million, a price-to-earnings ratio of -1.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.15.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its earnings results on Thursday, August 6th. The information services provider reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $119.55 million.

Institutional Trading of TechTarget

A number of institutional investors have recently added to or reduced their stakes in TTGT. BNP Paribas Financial Markets grew its holdings in TechTarget by 103.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,658 shares of the information services provider's stock valued at $33,000 after buying an additional 2,877 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of TechTarget in the fourth quarter worth about $55,000. The Manufacturers Life Insurance Company purchased a new stake in shares of TechTarget in the second quarter worth about $81,000. CWM LLC lifted its holdings in shares of TechTarget by 454.8% in the fourth quarter. CWM LLC now owns 10,664 shares of the information services provider's stock worth $58,000 after buying an additional 8,742 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new position in shares of TechTarget in the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TTGT. Needham & Company LLC dropped their price objective on shares of TechTarget from $15.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of TechTarget in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.00.

About TechTarget

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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