TechTarget, Inc. (NASDAQ:TTGT) Short Interest Up 23.6% in March

TechTarget, Inc. (NASDAQ:TTGT) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 855,900 shares, an increase of 23.6% from the February 28th total of 692,700 shares. Based on an average daily volume of 238,200 shares, the short-interest ratio is presently 3.6 days. Approximately 7.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

TTGT has been the subject of several research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 price target on shares of TechTarget in a report on Tuesday, January 21st. Needham & Company LLC lowered their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday. Lake Street Capital reduced their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Craig Hallum lowered their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Raymond James lowered shares of TechTarget from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, TechTarget presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

TechTarget Stock Down 4.0 %

TechTarget stock traded down $0.51 during mid-day trading on Wednesday, hitting $12.26. The company’s stock had a trading volume of 108,226 shares, compared to its average volume of 162,446. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. TechTarget has a 52-week low of $11.74 and a 52-week high of $35.11. The firm’s 50 day moving average is $15.48 and its 200 day moving average is $21.53. The company has a market cap of $358.27 million, a PE ratio of -29.18, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05.

Institutional Trading of TechTarget

Several institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in TechTarget by 4.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock worth $295,000 after buying an additional 698 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of TechTarget by 3.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 22,199 shares of the information services provider’s stock worth $440,000 after acquiring an additional 747 shares in the last quarter. State of Tennessee Department of Treasury boosted its position in TechTarget by 8.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock valued at $239,000 after purchasing an additional 910 shares during the last quarter. KBC Group NV grew its stake in TechTarget by 79.1% in the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 962 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after purchasing an additional 1,602 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.