Insider Selling: TechTarget Inc (TTGT) Director Sells $2,890,668.44 in Stock

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TechTarget Inc (NASDAQ:TTGT) Director Roger M. Marino sold 119,746 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $24.14, for a total value of $2,890,668.44. Following the sale, the director now owns 2,825 shares of the company’s stock, valued at approximately $68,195.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of NASDAQ:TTGT opened at $22.41 on Friday. TechTarget Inc has a twelve month low of $9.97 and a twelve month high of $34.47. The company has a market cap of $661.66 million, a P/E ratio of 93.38, a price-to-earnings-growth ratio of 2.40 and a beta of 1.05. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.13.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Wednesday, August 8th. The information services provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. TechTarget had a return on equity of 9.77% and a net margin of 10.24%. The firm had revenue of $31.47 million during the quarter, compared to the consensus estimate of $30.81 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. equities research analysts forecast that TechTarget Inc will post 0.5 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in TTGT. MetLife Investment Advisors LLC bought a new stake in TechTarget during the 4th quarter valued at approximately $137,000. Wells Fargo & Company MN boosted its stake in TechTarget by 51.4% during the 1st quarter. Wells Fargo & Company MN now owns 48,512 shares of the information services provider’s stock valued at $965,000 after purchasing an additional 16,473 shares during the period. Mackay Shields LLC bought a new stake in TechTarget during the 1st quarter valued at approximately $708,000. American Century Companies Inc. bought a new stake in TechTarget during the 1st quarter valued at approximately $713,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in TechTarget by 34.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,700 shares of the information services provider’s stock valued at $849,000 after purchasing an additional 11,000 shares during the period. Hedge funds and other institutional investors own 59.09% of the company’s stock.

Several analysts have recently issued reports on the company. Lake Street Capital set a $23.00 price target on TechTarget and gave the stock a “buy” rating in a research note on Friday, May 11th. Zacks Investment Research downgraded TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. ValuEngine downgraded TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Craig Hallum downgraded TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price target for the company. in a research note on Thursday, August 9th. They noted that the move was a valuation call. Finally, BidaskClub downgraded TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $23.80.

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 marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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