TechTarget, Inc. (NASDAQ:TTGT) Stake Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 292,418 shares of the information services provider’s stock after selling 4,626 shares during the quarter. Envestnet Asset Management Inc.’s holdings in TechTarget were worth $5,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV grew its position in shares of TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after buying an additional 962 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of TechTarget during the 4th quarter worth approximately $103,000. MeadowBrook Investment Advisors LLC lifted its holdings in shares of TechTarget by 26.4% in the 4th quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock worth $169,000 after purchasing an additional 1,780 shares during the last quarter. Quantbot Technologies LP bought a new position in TechTarget during the 4th quarter worth $173,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in TechTarget in the fourth quarter worth $377,000. 93.52% of the stock is owned by institutional investors and hedge funds.

TechTarget Trading Down 12.7 %

Shares of TechTarget stock opened at $7.12 on Tuesday. The business has a fifty day simple moving average of $12.65 and a 200-day simple moving average of $19.81. TechTarget, Inc. has a fifty-two week low of $7.02 and a fifty-two week high of $35.11. The firm has a market cap of $208.15 million, a price-to-earnings ratio of -16.95, a price-to-earnings-growth ratio of 113.92 and a beta of 1.03. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65.

Analysts Set New Price Targets

TTGT has been the subject of several recent research reports. Needham & Company LLC lowered their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price target on shares of TechTarget in a report on Tuesday, January 21st. StockNews.com lowered TechTarget from a “hold” rating to a “sell” rating in a report on Friday. Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. Finally, Lake Street Capital cut their price objective on shares of TechTarget from $24.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, TechTarget currently has a consensus rating of “Hold” and a consensus target price of $26.29.

TechTarget Company Profile

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. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.