TechTarget Inc (TTGT) Chairman Sells $501,750.00 in Stock

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TechTarget Inc (NASDAQ:TTGT) Chairman Greg Strakosch sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $20.07, for a total value of $501,750.00. Following the sale, the chairman now directly owns 562,242 shares of the company’s stock, valued at $11,284,196.94. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Greg Strakosch also recently made the following trade(s):

  • On Monday, October 22nd, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $20.67, for a total value of $516,750.00.
  • On Monday, October 8th, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $18.92, for a total value of $473,000.00.
  • On Friday, September 21st, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $20.16, for a total value of $504,000.00.
  • On Friday, September 7th, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $22.06, for a total value of $551,500.00.
  • On Tuesday, August 28th, Greg Strakosch sold 31,300 shares of TechTarget stock. The shares were sold at an average price of $24.46, for a total value of $765,598.00.
  • On Tuesday, August 21st, Greg Strakosch sold 25,000 shares of TechTarget stock. The shares were sold at an average price of $23.05, for a total value of $576,250.00.

Shares of NASDAQ TTGT traded up $0.10 during midday trading on Friday, hitting $16.61. The stock had a trading volume of 26,919 shares, compared to its average volume of 723,661. The stock has a market capitalization of $564.85 million, a P/E ratio of 68.77 and a beta of 0.93. TechTarget Inc has a fifty-two week low of $12.30 and a fifty-two week high of $34.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.09 and a current ratio of 3.09.

TechTarget (NASDAQ:TTGT) last released its earnings results on Wednesday, November 7th. The information services provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.07). The firm had revenue of $30.74 million during the quarter, compared to analyst estimates of $31.08 million. TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. Equities research analysts forecast that TechTarget Inc will post 0.5 earnings per share for the current fiscal year.

A number of research firms recently weighed in on TTGT. ValuEngine raised TechTarget from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research cut TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. BidaskClub raised TechTarget from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Craig Hallum cut TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price target for the company. in a report on Thursday, August 9th. They noted that the move was a valuation call. Finally, Raymond James assumed coverage on TechTarget in a research note on Thursday, September 27th. They issued an “outperform” rating and a $26.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. TechTarget currently has an average rating of “Hold” and a consensus target price of $24.67.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTGT. Federated Investors Inc. PA increased its stake in shares of TechTarget by 307.0% in the 2nd quarter. Federated Investors Inc. PA now owns 4,550 shares of the information services provider’s stock valued at $130,000 after buying an additional 3,432 shares during the period. First Quadrant L P CA increased its stake in shares of TechTarget by 101.5% in the 3rd quarter. First Quadrant L P CA now owns 8,373 shares of the information services provider’s stock valued at $163,000 after buying an additional 4,217 shares during the period. Voya Investment Management LLC acquired a new stake in shares of TechTarget in the 2nd quarter valued at $231,000. Victory Capital Management Inc. acquired a new stake in shares of TechTarget in the 3rd quarter valued at $246,000. Finally, Calamos Advisors LLC acquired a new stake in shares of TechTarget in the 3rd quarter valued at $305,000. 61.72% of the stock is owned by institutional investors.

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TechTarget Company Profile

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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