TechTarget, Inc. (NASDAQ:TTGT) Short Interest Update

TechTarget, Inc. (NASDAQ:TTGTGet Free Report) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 860,000 shares, a decline of 38.1% from the January 15th total of 1,390,000 shares. Based on an average trading volume of 202,100 shares, the days-to-cover ratio is presently 4.3 days. Currently, 3.4% of the company’s shares are sold short.

Institutional Trading of TechTarget

A number of hedge funds have recently bought and sold shares of TTGT. Quadrant Capital Group LLC increased its stake in TechTarget by 83.9% in the second quarter. Quadrant Capital Group LLC now owns 980 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 447 shares during the last quarter. State of Wyoming increased its stake in TechTarget by 121.2% in the fourth quarter. State of Wyoming now owns 1,208 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 662 shares during the last quarter. Advisors Asset Management Inc. increased its stake in TechTarget by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 828 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 282 shares during the last quarter. Point72 Middle East FZE acquired a new position in TechTarget in the fourth quarter valued at $73,000. Finally, PNC Financial Services Group Inc. increased its stake in TechTarget by 16.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock valued at $80,000 after purchasing an additional 367 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TheStreet cut shares of TechTarget from a “c” rating to a “d+” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of TechTarget in a report on Thursday. UBS Group raised TechTarget from a “neutral” rating to a “buy” rating and upped their price target for the company from $31.00 to $45.00 in a report on Wednesday, January 31st. Raymond James increased their price objective on TechTarget from $31.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, KeyCorp decreased their price objective on TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.33.

Get Our Latest Report on TechTarget

TechTarget Price Performance

NASDAQ:TTGT remained flat at $35.03 on Monday. 105,098 shares of the company’s stock were exchanged, compared to its average volume of 224,828. TechTarget has a 52 week low of $23.43 and a 52 week high of $41.94. The stock has a market cap of $994.15 million, a P/E ratio of 222.58, a price-to-earnings-growth ratio of 10.33 and a beta of 0.98. The stock’s 50-day simple moving average is $33.92 and its two-hundred day simple moving average is $30.59. The company has a current ratio of 10.04, a quick ratio of 9.27 and a debt-to-equity ratio of 1.84.

TechTarget Company Profile

(Get Free Report)

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 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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