TechTarget (NASDAQ:TTGT) Director David Flaschen Acquires 20,000 Shares

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 Flaschen purchased 20,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $5.97 per share, with a total value of $119,400.00. Following the completion of the purchase, the director owned 20,000 shares of the company's stock, valued at approximately $119,400. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

TechTarget Stock Up 1.8%

Shares of NASDAQ:TTGT traded up $0.11 during midday trading on Monday, hitting $6.08. 730,425 shares of the company's stock were exchanged, compared to its average volume of 405,762. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a 50 day moving average price of $6.65 and a 200-day moving average price of $8.45. The company has a market cap of $434.65 million, a PE ratio of -14.48 and a beta of 0.93. TechTarget, Inc. has a 12 month low of $5.39 and a 12 month high of $33.08.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Trigran Investments Inc. grew its position in shares of TechTarget by 9.9% during the 2nd 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. Vanguard Group Inc. lifted its stake in shares of TechTarget by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,923,408 shares of the information services provider's stock valued at $28,486,000 after buying an additional 18,603 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of TechTarget by 30.3% during the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider's stock valued at $19,380,000 after buying an additional 227,459 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of TechTarget by 68.9% during the 2nd quarter. Impax Asset Management Group plc now owns 888,887 shares of the information services provider's stock valued at $6,907,000 after buying an additional 362,500 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of TechTarget by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 688,593 shares of the information services provider's stock valued at $5,351,000 after buying an additional 4,953 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

TechTarget Company Profile

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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