Shares of TechTarget, Inc. (NASDAQ:TTGT – Get Rating) reached a new 52-week low during trading on Monday . The stock traded as low as $56.70 and last traded at $56.84, with a volume of 183428 shares changing hands. The stock had previously closed at $58.84.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. KeyCorp cut their target price on TechTarget from $102.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, August 3rd. 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. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.33.
Get TechTarget alerts:TechTarget Trading Down 3.4 %
The company has a debt-to-equity ratio of 1.91, a current ratio of 6.54 and a quick ratio of 6.54. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 150.79 and a beta of 0.99. The business's fifty day simple moving average is $64.97 and its 200 day simple moving average is $68.79.
Insider Activity
In other news, CEO Michael Cotoia sold 5,676 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $69.76, for a total transaction of $395,957.76. Following the transaction, the chief executive officer now owns 164,745 shares of the company's stock, valued at approximately $11,492,611.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.92% of the company's stock.Institutional Trading of TechTarget
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Redhawk Wealth Advisors Inc. boosted its stake in TechTarget by 5.7% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 11,337 shares of the information services provider's stock valued at $745,000 after purchasing an additional 612 shares during the period. Legal & General Group Plc lifted its holdings in shares of TechTarget by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 76,934 shares of the information services provider's stock worth $5,056,000 after acquiring an additional 3,272 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of TechTarget by 31.5% in the second quarter. Goldman Sachs Group Inc. now owns 95,687 shares of the information services provider's stock worth $6,288,000 after acquiring an additional 22,919 shares during the last quarter. Intrust Bank NA bought a new position in shares of TechTarget during the second quarter valued at $247,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of TechTarget by 20.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 26,129 shares of the information services provider's stock valued at $1,717,000 after purchasing an additional 4,417 shares during the last quarter. 98.73% of the stock is currently owned by institutional investors and hedge funds.
TechTarget Company Profile
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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.
Read More
- Get a free copy of the StockNews.com research report on TechTarget (TTGT)
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