Bank of America Corp DE raised its stake in TechTarget, Inc. (NASDAQ:TTGT – Get Rating) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 614,472 shares of the information services provider's stock after acquiring an additional 69,649 shares during the period. Bank of America Corp DE owned approximately 2.08% of TechTarget worth $49,945,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of TechTarget by 2.5% in the first quarter. BlackRock Inc. now owns 4,000,348 shares of the information services provider's stock worth $325,147,000 after acquiring an additional 96,343 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of TechTarget by 2.4% during the first quarter. Vanguard Group Inc. now owns 1,878,625 shares of the information services provider's stock valued at $152,695,000 after buying an additional 43,148 shares during the last quarter. abrdn plc boosted its position in shares of TechTarget by 0.3% during the first quarter. abrdn plc now owns 1,432,421 shares of the information services provider's stock valued at $116,427,000 after buying an additional 4,351 shares during the last quarter. State Street Corp boosted its position in shares of TechTarget by 4.8% during the first quarter. State Street Corp now owns 845,565 shares of the information services provider's stock valued at $68,728,000 after buying an additional 38,727 shares during the last quarter. Finally, Geneva Capital Management LLC purchased a new stake in shares of TechTarget during the first quarter valued at $39,756,000. 98.73% of the stock is owned by hedge funds and other institutional investors.
Get TechTarget alerts:TechTarget Stock Up 1.3 %
TTGT stock opened at $57.58 on Wednesday. TechTarget, Inc. has a fifty-two week low of $56.43 and a fifty-two week high of $111.44. The business's 50-day moving average is $64.92 and its two-hundred day moving average is $68.68. The company has a debt-to-equity ratio of 1.91, a quick ratio of 6.54 and a current ratio of 6.54. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 151.53 and a beta of 0.99.
Insider Buying and Selling at TechTarget
In other TechTarget 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 value of $395,957.76. Following the transaction, the chief executive officer now owns 164,745 shares of the company's stock, valued at $11,492,611.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.92% of the stock is owned by corporate insiders.Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on TTGT shares. KeyCorp dropped their price objective on TechTarget from $102.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 3rd. Raymond James increased their price objective on TechTarget from $81.00 to $82.00 and gave the company an "outperform" rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.33.
TechTarget 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.
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