Sean Paul Tierney Sells 3,112 Shares of TechTarget (NASDAQ:TTGT) Stock

Key Points

• CTO Sean Paul Tierney sold 3,112 shares of TechTarget stock at an average price of $5.99, resulting in a total transaction of $18,640.88.
• TechTarget recently reported a quarterly earnings per share of $0.29, exceeding the consensus estimate by $0.17 and achieving revenue of $119.94 million.
• Institutional investors collectively own 93.52% of TechTarget's stock, highlighting significant institutional interest in the company.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) CTO Sean Paul Tierney sold 3,112 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $5.99, for a total transaction of $18,640.88. Following the sale, the chief technology officer directly owned 26,584 shares in the company, valued at approximately $159,238.16. The trade was a 10.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

TechTarget Stock Performance

Shares of NASDAQ TTGT traded down $0.02 during trading on Monday, reaching $6.22. 530,773 shares of the company traded hands, compared to its average volume of 383,390. The firm has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $9.48. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $444.67 million, a PE ratio of -14.81 and a beta of 0.96. TechTarget, Inc. has a 52-week low of $5.55 and a 52-week high of $33.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $119.94 million for the quarter, compared to analysts' expectations of $106.19 million. Equities research analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TTGT. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of TechTarget in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. cut shares of TechTarget from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $18.00 to $8.00 in a research note on Tuesday, June 10th. Craig Hallum began coverage on shares of TechTarget in a research note on Monday, June 9th. They issued a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen cut shares of TechTarget from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Lake Street Capital decreased their target price on shares of TechTarget from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $16.40.

Institutional Investors Weigh In On TechTarget

Institutional investors and hedge funds have recently modified their holdings of the stock. Impax Asset Management Group plc raised its position in shares of TechTarget by 23.5% during the first quarter. Impax Asset Management Group plc now owns 526,387 shares of the information services provider's stock valued at $7,796,000 after buying an additional 100,000 shares during the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of TechTarget by 19.4% in the first quarter. Rice Hall James & Associates LLC now owns 301,382 shares of the information services provider's stock valued at $4,463,000 after purchasing an additional 48,934 shares in the last quarter. Trigran Investments Inc. grew its holdings in shares of TechTarget by 20.4% in the first quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider's stock valued at $67,042,000 after purchasing an additional 767,327 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of TechTarget by 35.1% in 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. Finally, Harbor Capital Advisors Inc. purchased a new position in TechTarget during the first quarter worth $3,921,000. Institutional investors own 93.52% of the company's stock.

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.

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