Assenagon Asset Management S.A. Trims Stock Position in TechTarget, Inc. (NASDAQ:TTGT)

Assenagon Asset Management S.A. lowered its stake in TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 42.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,676 shares of the information services provider's stock after selling 85,429 shares during the quarter. Assenagon Asset Management S.A. owned 0.41% of TechTarget worth $4,067,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TTGT. First Hawaiian Bank increased its stake in TechTarget by 57.7% during the 3rd quarter. First Hawaiian Bank now owns 23,587 shares of the information services provider's stock valued at $716,000 after purchasing an additional 8,632 shares in the last quarter. M&T Bank Corp boosted its holdings in TechTarget by 29.0% during the 3rd quarter. M&T Bank Corp now owns 29,818 shares of the information services provider's stock worth $906,000 after acquiring an additional 6,711 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in TechTarget by 18.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 188,308 shares of the information services provider's stock worth $5,717,000 after acquiring an additional 28,736 shares during the last quarter. Trexquant Investment LP purchased a new position in TechTarget during the 3rd quarter worth $466,000. Finally, Earnest Partners LLC boosted its holdings in TechTarget by 13.5% during the 3rd quarter. Earnest Partners LLC now owns 510,976 shares of the information services provider's stock worth $15,513,000 after acquiring an additional 60,889 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of TechTarget in a report on Thursday, February 8th. TheStreet downgraded shares of TechTarget from a "c" rating to a "d+" rating in a report on Wednesday, February 7th. KeyCorp cut their price target on shares of TechTarget from $58.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, January 22nd. Raymond James boosted their price target on shares of TechTarget from $31.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, January 12th. Finally, UBS Group raised shares of TechTarget from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $31.00 to $45.00 in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, TechTarget currently has an average rating of "Hold" and a consensus price target of $40.33.

Insider Activity at TechTarget

In related news, COO Steven Niemiec sold 13,608 shares of the business's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the sale, the chief operating officer now directly owns 40,755 shares in the company, valued at approximately $1,312,311. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Steven Niemiec sold 13,608 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the transaction, the chief operating officer now directly owns 40,755 shares in the company, valued at approximately $1,312,311. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Rebecca Kitchens sold 13,666 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $440,045.20. Following the completion of the transaction, the president now owns 53,920 shares of the company's stock, valued at $1,736,224. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

TechTarget Stock Performance

TechTarget stock traded down $1.20 during midday trading on Tuesday, reaching $32.08. The stock had a trading volume of 146,462 shares, compared to its average volume of 157,834. TechTarget, Inc. has a 12 month low of $23.43 and a 12 month high of $41.93. The firm's 50-day moving average price is $32.47 and its 200 day moving average price is $31.09. The firm has a market capitalization of $915.88 million, a PE ratio of 200.51, a P/E/G ratio of 9.86 and a beta of 0.94. The company has a quick ratio of 10.04, a current ratio of 10.04 and a debt-to-equity ratio of 1.84.

TechTarget (NASDAQ:TTGT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. The business had revenue of $57.29 million for the quarter, compared to analysts' expectations of $56.73 million. As a group, research analysts predict that TechTarget, Inc. will post 0.62 earnings per share for the current fiscal year.

About TechTarget

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.