TechTarget Inc (NASDAQ:TTGT) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,630,000 shares, a growth of 12.4% from the December 15th total of 1,450,000 shares. Approximately 7.0% of the shares of the stock are sold short. Based on an average trading volume of 154,200 shares, the days-to-cover ratio is presently 10.6 days.
In other TechTarget news, CEO Michael Cotoia sold 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $25.01, for a total value of $555,222.00. Following the sale, the chief executive officer now owns 64,748 shares in the company, valued at $1,619,347.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Don Hawk sold 20,315 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $24.69, for a total transaction of $501,577.35. Following the completion of the sale, the director now owns 138,179 shares in the company, valued at approximately $3,411,639.51. The disclosure for this sale can be found here. Insiders sold 247,371 shares of company stock worth $6,490,909 over the last three months. 18.68% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of TechTarget by 19.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 56,340 shares of the information services provider’s stock worth $1,198,000 after purchasing an additional 9,230 shares during the period. Mason Street Advisors LLC lifted its holdings in shares of TechTarget by 7.1% during the third quarter. Mason Street Advisors LLC now owns 7,793 shares of the information services provider’s stock worth $176,000 after purchasing an additional 516 shares during the period. Voya Investment Management LLC acquired a new position in shares of TechTarget during the third quarter worth $201,000. Comerica Bank lifted its holdings in shares of TechTarget by 5.3% during the third quarter. Comerica Bank now owns 21,455 shares of the information services provider’s stock worth $498,000 after purchasing an additional 1,078 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of TechTarget by 18.1% during the third quarter. California Public Employees Retirement System now owns 15,218 shares of the information services provider’s stock worth $343,000 after purchasing an additional 2,333 shares during the period. Institutional investors own 72.52% of the company’s stock.
Shares of NASDAQ:TTGT opened at $26.12 on Tuesday. The firm has a market cap of $699.02 million, a PE ratio of 58.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.75. The firm’s fifty day moving average is $25.81 and its 200-day moving average is $24.20. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.46 and a current ratio of 5.46. TechTarget has a 52 week low of $12.46 and a 52 week high of $30.00.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Wednesday, November 6th. The information services provider reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $33.81 million for the quarter, compared to analyst estimates of $33.60 million. TechTarget had a net margin of 11.73% and a return on equity of 9.55%. Sell-side analysts forecast that TechTarget will post 0.69 EPS for the current year.
A number of analysts have weighed in on TTGT shares. ValuEngine lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. BidaskClub lowered shares of TechTarget from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 7th. Lake Street Capital raised their target price on shares of TechTarget from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Zacks Investment Research lowered shares of TechTarget from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.67.
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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