TechTarget (NASDAQ:TTGT) President William Thomas Morelli Sells 2,809 Shares of Stock

TechTarget, Inc. (NASDAQ:TTGT) President William Thomas Morelli sold 2,809 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $3.74, for a total transaction of $10,505.66. Following the transaction, the president directly owned 8,288 shares in the company, valued at $30,997.12. This trade represents a 25.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

TechTarget Stock Performance

Shares of TTGT opened at $3.75 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a 50-day moving average of $3.92 and a 200-day moving average of $4.17. The company has a market cap of $271.24 million, a PE ratio of -1.53 and a beta of 1.08. TechTarget, Inc. has a one year low of $3.37 and a one year high of $6.70.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Thursday, August 6th. The information services provider reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.09). TechTarget had a negative return on equity of 0.62% and a negative net margin of 36.85%.The firm had revenue of $116.15 million for the quarter, compared to analyst estimates of $119.55 million.

Hedge Funds Weigh In On TechTarget

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TTGT. Needham & Company LLC reduced their price target on shares of TechTarget from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of TechTarget in a 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.