Trigran Investments Inc. Has $25.57 Million Position in TechTarget, Inc. $TTGT

Trigran Investments Inc. lowered its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,735,072 shares of the information services provider’s stock after selling 278,796 shares during the quarter. TechTarget accounts for about 5.0% of Trigran Investments Inc.’s portfolio, making the stock its 11th biggest position. Trigran Investments Inc. owned about 6.56% of TechTarget worth $25,569,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TTGT. BNP Paribas Financial Markets raised its position in shares of TechTarget by 103.5% during the third quarter. BNP Paribas Financial Markets now owns 5,658 shares of the information services provider’s stock worth $33,000 after purchasing an additional 2,877 shares during the period. CWM LLC raised its position in shares of TechTarget by 454.8% during the fourth quarter. CWM LLC now owns 10,664 shares of the information services provider’s stock worth $58,000 after purchasing an additional 8,742 shares during the period. Quotient Wealth Partners LLC acquired a new stake in shares of TechTarget during the fourth quarter worth about $59,000. The Manufacturers Life Insurance Company acquired a new stake in shares of TechTarget during the second quarter worth about $81,000. Finally, Legato Capital Management LLC acquired a new stake in shares of TechTarget during the third quarter worth about $90,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

TechTarget Price Performance

Shares of TechTarget stock opened at $3.62 on Monday. The business’s 50 day simple moving average is $4.75 and its 200 day simple moving average is $4.79. TechTarget, Inc. has a 52-week low of $3.41 and a 52-week high of $9.00. The firm has a market cap of $261.73 million, a PE ratio of -0.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.15 and a current ratio of 1.15.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Thursday, May 7th. The information services provider reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.59). TechTarget had a negative net margin of 113.65% and a positive return on equity of 5.19%. The firm had revenue of $106.05 million during the quarter, compared to analyst estimates of $104.93 million.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Lake Street Capital dropped their target price on TechTarget from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Wall Street Zen raised TechTarget from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Needham & Company LLC reissued a “buy” rating on shares of TechTarget in a research report on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of TechTarget in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.50.

TechTarget Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.