Los Angeles Capital Management LLC Makes New $90,000 Investment in TechTarget, Inc. $TTGT

Los Angeles Capital Management LLC bought a new stake in TechTarget, Inc. (NASDAQ:TTGT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,580 shares of the information services provider’s stock, valued at approximately $90,000.

Several other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. grew its holdings in shares of TechTarget by 1,840.5% in the first quarter. Raymond James Financial Inc. now owns 461,691 shares of the information services provider’s stock valued at $6,838,000 after purchasing an additional 437,899 shares during the period. Trigran Investments Inc. raised its stake in TechTarget by 20.4% during the first quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider’s stock worth $67,042,000 after purchasing an additional 767,327 shares during the period. Envestnet Asset Management Inc. boosted its holdings in TechTarget by 35.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 395,134 shares of the information services provider’s stock valued at $5,852,000 after purchasing an additional 102,716 shares during the last quarter. Earnest Partners LLC grew its stake in shares of TechTarget by 41.3% in the 1st quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider’s stock valued at $10,166,000 after buying an additional 200,495 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of TechTarget during the 1st quarter worth approximately $1,566,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director David J. S. Flaschen acquired 20,000 shares of TechTarget stock in a transaction dated Friday, September 12th. The shares were acquired at an average cost of $5.97 per share, for a total transaction of $119,400.00. Following the completion of the purchase, the director owned 20,000 shares in the company, valued at approximately $119,400. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel T. Noreck sold 8,459 shares of TechTarget stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $5.99, for a total value of $50,669.41. Following the completion of the transaction, the chief financial officer owned 71,519 shares of the company’s stock, valued at approximately $428,398.81. This trade represents a 10.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TTGT shares. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of TechTarget in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TechTarget in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered TechTarget from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.25.

TechTarget Trading Down 2.4%

NASDAQ TTGT opened at $4.89 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $352.85 million, a price-to-earnings ratio of -2.66 and a beta of 1.01. The firm has a 50 day simple moving average of $5.71 and a 200-day simple moving average of $6.63. TechTarget, Inc. has a one year low of $4.63 and a one year high of $33.08.

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.