David J. S. Flaschen Purchases 20,000 Shares of TechTarget (NASDAQ:TTGT) Stock

Key Points

• David Flaschen, a director at TechTarget, purchased 20,000 shares of the company's stock at an average price of $5.97, totaling approximately $119,400.
• Following the transaction, TechTarget's stock price increased by 1.8%, reaching $6.08 with a trading volume significantly above its average.
• Despite recent purchases from institutional investors, analysts have issued mixed ratings on TechTarget, with a consensus target price of $16.40 and some downgrading their recommendations to "sell."

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) Director David J. S. Flaschen bought 20,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average cost of $5.97 per share, for a total transaction of $119,400.00. Following the purchase, the director owned 20,000 shares in the company, valued at $119,400. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TechTarget Trading Down 3.6%

TTGT traded down $0.25 during mid-day trading on Friday, hitting $6.73. 4,725,858 shares of the stock were exchanged, compared to its average volume of 647,850. The firm's fifty day moving average is $6.61 and its two-hundred day moving average is $8.26. TechTarget, Inc. has a 1-year low of $5.39 and a 1-year high of $33.08. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The company has a market cap of $481.13 million, a PE ratio of -16.02 and a beta of 0.93.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.17. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%.The firm had revenue of $119.94 million for the quarter, compared to analyst estimates of $106.19 million. Equities analysts forecast that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in TechTarget by 4,513.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,029 shares of the information services provider's stock worth $39,000 after buying an additional 4,920 shares during the last quarter. CWM LLC grew its stake in TechTarget by 904.0% during the 2nd quarter. CWM LLC now owns 5,221 shares of the information services provider's stock worth $41,000 after buying an additional 4,701 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in TechTarget by 18.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider's stock worth $145,000 after buying an additional 1,541 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in TechTarget during the 2nd quarter worth approximately $81,000. Finally, Los Angeles Capital Management LLC purchased a new position in TechTarget during the 2nd quarter worth approximately $90,000. Hedge funds and other 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.