Granahan Investment Management LLC boosted its position in shares of TechTarget, Inc. (NASDAQ:TTGT – Get Rating) by 5.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 119,613 shares of the information services provider's stock after acquiring an additional 5,761 shares during the quarter. Granahan Investment Management LLC owned about 0.40% of TechTarget worth $9,722,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TTGT. UMB Bank N A MO acquired a new stake in TechTarget during the 4th quarter worth about $27,000. Truist Financial Corp purchased a new position in shares of TechTarget during the 1st quarter valued at about $280,000. Mutual of America Capital Management LLC raised its stake in shares of TechTarget by 8.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 3,842 shares of the information services provider's stock valued at $312,000 after buying an additional 298 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of TechTarget by 11.3% during the 1st quarter. Nordea Investment Management AB now owns 3,928 shares of the information services provider's stock valued at $320,000 after buying an additional 399 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new position in shares of TechTarget during the 4th quarter valued at about $362,000. Institutional investors and hedge funds own 98.73% of the company's stock.
Get TechTarget alerts:Insider Activity at TechTarget
In related news, CEO Michael Cotoia sold 5,675 shares of TechTarget stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $65.80, for a total value of $373,415.00. Following the completion of the transaction, the chief executive officer now owns 15,421 shares in the company, valued at approximately $1,014,701.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.92% of the stock is owned by company insiders.
TechTarget Price Performance
Shares of TechTarget stock opened at $65.66 on Friday. The company has a quick ratio of 6.54, a current ratio of 6.54 and a debt-to-equity ratio of 1.91. TechTarget, Inc. has a twelve month low of $56.83 and a twelve month high of $111.44. The business has a 50-day moving average price of $65.42 and a 200 day moving average price of $69.75. The firm has a market cap of $1.94 billion, a PE ratio of 172.79 and a beta of 0.99.Analysts Set New Price Targets
TTGT has been the subject of a number of recent research reports. Raymond James lifted their price objective on TechTarget from $81.00 to $82.00 and gave the company an "outperform" rating in a research note on Friday, August 5th. KeyCorp reduced their price objective on TechTarget from $102.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, August 3rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TechTarget has an average rating of "Moderate Buy" and an average target price of $91.00.
About TechTarget
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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. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.
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