Pier Capital LLC Purchases 24,203 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Pier Capital LLC increased its position in TechTarget, Inc. (NASDAQ:TTGTGet Rating) by 28.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,290 shares of the information services provider’s stock after acquiring an additional 24,203 shares during the quarter. Pier Capital LLC owned about 0.38% of TechTarget worth $10,550,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TTGT. abrdn plc boosted its position in shares of TechTarget by 48.3% in the fourth quarter. abrdn plc now owns 1,428,070 shares of the information services provider’s stock valued at $136,610,000 after acquiring an additional 465,417 shares during the period. Earnest Partners LLC lifted its position in TechTarget by 79.4% during the fourth quarter. Earnest Partners LLC now owns 310,034 shares of the information services provider’s stock valued at $29,658,000 after purchasing an additional 137,258 shares during the last quarter. BlackRock Inc. lifted its position in TechTarget by 3.2% during the third quarter. BlackRock Inc. now owns 3,755,414 shares of the information services provider’s stock valued at $309,521,000 after purchasing an additional 116,071 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in TechTarget during the fourth quarter valued at approximately $10,377,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in TechTarget during the fourth quarter valued at approximately $9,548,000. Institutional investors own 99.78% of the company’s stock.

In other TechTarget news, Director Don Hawk sold 4,819 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $77.28, for a total transaction of $372,412.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.45% of the stock is owned by insiders.

Shares of TTGT stock traded up $5.15 during trading hours on Tuesday, hitting $62.72. 297,720 shares of the company’s stock were exchanged, compared to its average volume of 196,907. The company has a current ratio of 6.26, a quick ratio of 6.26 and a debt-to-equity ratio of 2.03. TechTarget, Inc. has a 12-month low of $56.83 and a 12-month high of $111.44. The business’s 50 day simple moving average is $74.50 and its 200-day simple moving average is $84.63. The company has a market capitalization of $1.87 billion, a PE ratio of -6,272,000.00 and a beta of 1.04.

TechTarget (NASDAQ:TTGTGet Rating) last issued its earnings results on Tuesday, May 10th. The information services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.47 by $0.06. TechTarget had a net margin of 0.36% and a return on equity of 21.79%. The company had revenue of $68.17 million for the quarter, compared to the consensus estimate of $66.33 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. Equities analysts anticipate that TechTarget, Inc. will post 1.62 EPS for the current year.

Several brokerages have issued reports on TTGT. Deutsche Bank Aktiengesellschaft dropped their target price on shares of TechTarget from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 11th. Raymond James dropped their target price on shares of TechTarget from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 11th. StockNews.com began coverage on shares of TechTarget in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet lowered shares of TechTarget from a “b” rating to a “c” rating in a research report on Thursday, February 10th. Finally, Zacks Investment Research downgraded shares of TechTarget from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $99.57.

About TechTarget (Get Rating)

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.

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Institutional Ownership by Quarter for TechTarget (NASDAQ:TTGT)

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