Fmr LLC Has $60.04 Million Stock Position in TechTarget, Inc. (NASDAQ:TTGT)

Fmr LLC lifted its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,455,705 shares of the information services provider’s stock after purchasing an additional 60,191 shares during the quarter. Fmr LLC owned approximately 0.08% of TechTarget worth $60,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BOKF NA acquired a new stake in TechTarget during the second quarter worth $239,000. The Manufacturers Life Insurance Company lifted its holdings in shares of TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after acquiring an additional 430 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of TechTarget during the 3rd quarter valued at about $245,000. Intech Investment Management LLC bought a new stake in TechTarget in the third quarter valued at about $257,000. Finally, Quest Partners LLC acquired a new position in TechTarget in the third quarter worth about $272,000. 93.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TTGT has been the topic of a number of recent research reports. KeyCorp decreased their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research report on Wednesday, November 13th. Craig Hallum lifted their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Raymond James lowered their target price on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com began coverage on shares of TechTarget in a report on Thursday. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Stock Performance

Shares of NASDAQ:TTGT opened at $25.54 on Friday. The business has a fifty day moving average of $28.32 and a 200-day moving average of $28.73. The firm has a market cap of $746.66 million, a PE ratio of -60.81, a price-to-earnings-growth ratio of 14.28 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. TechTarget, Inc. has a twelve month low of $22.01 and a twelve month high of $33.08.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The company had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts predict that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

TechTarget 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.