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 stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $5.99, for a total value of $18,640.88. Following the completion of the sale, the chief technology officer directly owned 26,584 shares in the company, valued at $159,238.16. This represents a 10.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

TechTarget Stock Up 0.5%

Shares of TechTarget stock traded up $0.03 on Friday, reaching $5.90. 772,461 shares of the company were exchanged, compared to its average volume of 614,982. The stock's 50 day moving average price is $6.93 and its 200-day moving average price is $9.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.96. TechTarget, Inc. has a 1-year low of $5.55 and a 1-year high of $33.08. The company has a market cap of $421.79 million, a P/E ratio of -14.05 and a beta of 0.96.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, beating 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. As a group, equities analysts forecast that TechTarget, Inc. will post -0.46 EPS for the current year.

Analyst Upgrades and Downgrades

TTGT has been the topic of a number of analyst reports. Needham & Company LLC restated a "buy" rating and issued a $15.00 price objective on shares of TechTarget in a report on Wednesday, July 2nd. Lake Street Capital reduced their price objective on shares of TechTarget from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Craig Hallum assumed coverage on shares of TechTarget in a report on Monday, June 9th. They issued a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen lowered shares of TechTarget from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, JPMorgan Chase & Co. lowered shares of TechTarget from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $18.00 to $8.00 in a research note on Tuesday, June 10th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.40.

Institutional Investors Weigh In On TechTarget

Several large investors have recently modified their holdings of the company. Public Sector Pension Investment Board boosted its holdings in shares of TechTarget by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 92,443 shares of the information services provider's stock valued at $718,000 after acquiring an additional 6,355 shares during the period. Jane Street Group LLC acquired a new stake in shares of TechTarget in the second quarter valued at approximately $984,000. The Manufacturers Life Insurance Company acquired a new stake in shares of TechTarget in the second quarter valued at approximately $81,000. WINTON GROUP Ltd boosted its holdings in shares of TechTarget by 94.7% in the second quarter. WINTON GROUP Ltd now owns 154,107 shares of the information services provider's stock valued at $1,197,000 after acquiring an additional 74,947 shares during the period. Finally, Trigran Investments Inc. boosted its holdings in shares of TechTarget by 9.9% in the second quarter. Trigran Investments Inc. now owns 4,974,434 shares of the information services provider's stock valued at $38,651,000 after acquiring an additional 447,598 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

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.