Insider Selling: TechTarget Inc (TTGT) Director Sells 15,000 Shares of Stock

TechTarget Inc (NASDAQ:TTGT) Director Don Hawk sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $19.54, for a total transaction of $293,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of TTGT stock opened at $21.35 on Wednesday. The company has a current ratio of 4.66, a quick ratio of 4.82 and a debt-to-equity ratio of 0.39. TechTarget Inc has a 1 year low of $11.12 and a 1 year high of $34.47. The firm has a market capitalization of $589.18 million, a price-to-earnings ratio of 47.44 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Wednesday, May 8th. The information services provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.05. TechTarget had a net margin of 11.41% and a return on equity of 10.74%. The firm had revenue of $29.97 million for the quarter, compared to analyst estimates of $29.32 million. During the same period in the previous year, the business earned $0.11 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Research analysts expect that TechTarget Inc will post 0.54 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Bank of Montreal Can increased its stake in TechTarget by 155.8% in the 1st quarter. Bank of Montreal Can now owns 1,558 shares of the information services provider’s stock valued at $25,000 after buying an additional 949 shares during the last quarter. Advisor Group Inc. acquired a new stake in TechTarget in the 1st quarter valued at $32,000. BNP Paribas Arbitrage SA increased its stake in TechTarget by 924.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,271 shares of the information services provider’s stock valued at $69,000 after buying an additional 3,854 shares during the last quarter. Pearl River Capital LLC acquired a new stake in TechTarget in the 4th quarter valued at $60,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in TechTarget by 413.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,859 shares of the information services provider’s stock valued at $84,000 after buying an additional 5,522 shares during the last quarter. Hedge funds and other institutional investors own 75.20% of the company’s stock.

TTGT has been the topic of a number of research analyst reports. BidaskClub upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. ValuEngine upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Craig Hallum upgraded shares of TechTarget from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Thursday, May 9th. Finally, Zacks Investment Research lowered shares of TechTarget from a “hold” rating to a “sell” rating in a report on Friday, February 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.00.

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About TechTarget

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand advertising techniques.

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