New York State Teachers Retirement System Sells 439 Shares of TechTarget, Inc. (NASDAQ:TTGT)

New York State Teachers Retirement System cut its stake in TechTarget, Inc. (NASDAQ:TTGT – Get Rating) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,142 shares of the information services provider’s stock after selling 439 shares during the quarter. New York State Teachers Retirement System’s holdings in TechTarget were worth $956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TTGT. Assenagon Asset Management S.A. lifted its holdings in shares of TechTarget by 11.0% during the third quarter. Assenagon Asset Management S.A. now owns 93,537 shares of the information services provider’s stock valued at $5,537,000 after purchasing an additional 9,289 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of TechTarget by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 106,646 shares of the information services provider’s stock valued at $6,313,000 after buying an additional 4,941 shares in the last quarter. Truist Financial Corp lifted its stake in shares of TechTarget by 83.4% during the 3rd quarter. Truist Financial Corp now owns 6,488 shares of the information services provider’s stock valued at $384,000 after buying an additional 2,950 shares in the last quarter. Meritage Portfolio Management lifted its stake in shares of TechTarget by 8.8% during the 3rd quarter. Meritage Portfolio Management now owns 4,569 shares of the information services provider’s stock valued at $270,000 after buying an additional 370 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in TechTarget in the 3rd quarter worth $231,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTGT has been the topic of several recent research reports. StockNews.com began coverage on shares of TechTarget in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James dropped their price objective on shares of TechTarget from $82.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 10th. Craig Hallum downgraded shares of TechTarget from a “buy” rating to a “hold” rating and dropped their price objective for the company from $85.00 to $45.00 in a research note on Thursday, November 10th. Cowen decreased their target price on shares of TechTarget to $47.00 in a research report on Tuesday, November 15th. Finally, The Goldman Sachs Group began coverage on shares of TechTarget in a report on Tuesday, December 20th. They issued a “neutral” rating and a $57.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.50.

TechTarget Price Performance

TechTarget stock opened at $46.43 on Friday. The company’s 50 day simple moving average is $44.88 and its 200-day simple moving average is $57.02. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 89.29 and a beta of 0.88. TechTarget, Inc. has a 1 year low of $41.79 and a 1 year high of $91.95. The company has a debt-to-equity ratio of 1.98, a quick ratio of 7.53 and a current ratio of 7.53.

TechTarget (NASDAQ:TTGT – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The information services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. TechTarget had a net margin of 6.12% and a return on equity of 23.09%. The company had revenue of $77.41 million during the quarter, compared to analysts’ expectations of $80.26 million. As a group, equities research analysts expect that TechTarget, Inc. will post 1.55 earnings per share for the current year.

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.