GAMMA Investing LLC Acquires 4,920 Shares of TechTarget, Inc. $TTGT

GAMMA Investing LLC raised its holdings in TechTarget, Inc. (NASDAQ:TTGT – Free Report) by 4,513.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,029 shares of the information services provider’s stock after buying an additional 4,920 shares during the period. GAMMA Investing LLC’s holdings in TechTarget were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in TTGT. Harbor Capital Advisors Inc. bought a new position in shares of TechTarget in the first quarter valued at $3,921,000. Acuitas Investments LLC lifted its stake in shares of TechTarget by 63.3% in the first quarter. Acuitas Investments LLC now owns 59,340 shares of the information services provider’s stock valued at $879,000 after buying an additional 23,008 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of TechTarget by 5.5% in the first quarter. Principal Financial Group Inc. now owns 135,517 shares of the information services provider’s stock valued at $2,007,000 after buying an additional 7,105 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of TechTarget by 23.5% in 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 in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake 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 buying an additional 102,716 shares in the last quarter. 93.52% of the stock is owned by institutional investors.
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Insider Activity at TechTarget
In other TechTarget news, CFO Daniel T. Noreck sold 8,459 shares of TechTarget stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $5.99, for a total transaction of $50,669.41. Following the completion of the sale, the chief financial officer directly owned 71,519 shares in the company, valued at $428,398.81. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David J. S. Flaschen bought 20,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were bought at an average price of $5.97 per share, with a total value of $119,400.00. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at $119,400. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.92% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of TechTarget from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $18.00 to $8.00 in a report on Tuesday, June 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TechTarget in a report on Saturday, September 27th. Craig Hallum assumed coverage on shares of TechTarget in a report on Monday, June 9th. They issued a “buy” rating and a $12.00 target price for the company. Lake Street Capital lowered their target price on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. Finally, Wall Street Zen downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.40.
Check Out Our Latest Analysis on TTGT
TechTarget Price Performance
TTGT stock opened at $5.72 on Friday. The firm has a 50 day moving average of $6.26 and a 200-day moving average of $7.67. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. TechTarget, Inc. has a 12 month low of $5.39 and a 12 month high of $33.08. The firm has a market capitalization of $408.92 million, a P/E ratio of -13.62 and a beta of 0.99.
TechTarget (NASDAQ:TTGT – Get Free Report) last announced its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share (EPS) 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 business had revenue of $119.94 million during the quarter, compared to analyst estimates of $106.19 million. As a group, sell-side analysts predict that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.
About TechTarget
(Free Report)
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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