Burney Co. Sells 2,920 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Burney Co. decreased its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 31.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,484 shares of the information services provider’s stock after selling 2,920 shares during the quarter. Burney Co.’s holdings in TechTarget were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TTGT. MeadowBrook Investment Advisors LLC acquired a new position in TechTarget during the fourth quarter worth $194,000. Aigen Investment Management LP lifted its position in TechTarget by 6.6% in the 4th quarter. Aigen Investment Management LP now owns 7,712 shares of the information services provider’s stock valued at $269,000 after acquiring an additional 476 shares in the last quarter. Inspire Investing LLC acquired a new position in TechTarget during the 1st quarter valued at about $361,000. State Board of Administration of Florida Retirement System increased its holdings in TechTarget by 37.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of TechTarget by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after purchasing an additional 959 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

TechTarget Stock Performance

NASDAQ:TTGT opened at $31.01 on Friday. TechTarget, Inc. has a 52-week low of $23.43 and a 52-week high of $41.93. The business’s fifty day moving average is $31.29 and its 200 day moving average is $31.13. The company has a debt-to-equity ratio of 1.84, a quick ratio of 8.60 and a current ratio of 8.60. The firm has a market cap of $885.34 million, a price-to-earnings ratio of -124.04, a PEG ratio of 16.67 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Thursday, May 9th. The information services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). TechTarget had a negative net margin of 3.24% and a positive return on equity of 6.14%. The company had revenue of $51.64 million for the quarter, compared to the consensus estimate of $51.31 million. Research analysts predict that TechTarget, Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on TTGT. Craig Hallum decreased their price target on TechTarget from $41.00 to $34.00 and set a “hold” rating for the company in a report on Friday, May 10th. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of TechTarget in a research report on Friday, May 10th. Raymond James decreased their target price on TechTarget from $45.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on TechTarget from $40.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TechTarget currently has a consensus rating of “Hold” and an average price target of $37.88.

About TechTarget

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.