TechTarget (NASDAQ:TTGT) CEO Gary John Nugent Sells 12,608 Shares of Stock

TechTarget, Inc. (NASDAQ:TTGT) CEO Gary Nugent sold 12,608 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $3.74, for a total value of $47,153.92. Following the completion of the sale, the chief executive officer directly owned 25,758 shares of the company’s stock, valued at $96,334.92. The trade was a 32.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TechTarget Stock Performance

NASDAQ:TTGT opened at $3.75 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.24. The firm’s fifty day simple moving average is $3.92 and its 200 day simple moving average is $4.17. The stock has a market cap of $271.24 million, a P/E ratio of -1.53 and a beta of 1.08. TechTarget, Inc. has a twelve month low of $3.37 and a twelve month high of $6.70.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Thursday, August 6th. The information services provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.09). The company had revenue of $116.15 million during the quarter, compared to the consensus estimate of $119.55 million. TechTarget had a negative return on equity of 0.62% and a negative net margin of 36.85%.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently bought and sold shares of the business. Corient Private Wealth LP bought a new position in shares of TechTarget during the second quarter valued at approximately $48,000. Bank of New York Mellon Corp bought a new stake in shares of TechTarget in the 2nd quarter worth approximately $420,000. Bank of America Corp DE boosted its position in shares of TechTarget by 10.3% in the 1st quarter. Bank of America Corp DE now owns 927,761 shares of the information services provider’s stock worth $3,600,000 after purchasing an additional 86,836 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of TechTarget by 23.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 2,158,390 shares of the information services provider’s stock worth $8,375,000 after buying an additional 412,584 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of TechTarget by 43.8% in the 1st quarter. Sei Investments Co. now owns 36,108 shares of the information services provider’s stock worth $140,000 after buying an additional 10,994 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TTGT. Needham & Company LLC reduced their target price on TechTarget from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of TechTarget in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.00.

TechTarget Company Profile

TechTarget, Inc is a business-to-business technology marketing and data company that operates the Informa TechTarget platform. The company helps technology vendors and service providers identify prospective customers, understand their research interests and purchasing activity, and engage with decision-makers throughout the buying process.

Its offerings include high-intent purchase data, account and audience intelligence, digital marketing solutions, demand-generation programs, content creation, lead generation, and research and advisory services.