Rice Hall James & Associates LLC Reduces Stake in TechTarget, Inc. (NASDAQ:TTGT)

Rice Hall James & Associates LLC lowered its holdings in TechTarget, Inc. (NASDAQ:TTGT) by 5.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 252,448 shares of the information services provider’s stock after selling 15,144 shares during the quarter. Rice Hall James & Associates LLC owned about 0.86% of TechTarget worth $5,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TTGT. Harbor Capital Advisors Inc. grew its stake in TechTarget by 152.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after buying an additional 96,896 shares during the last quarter. Impax Asset Management Group plc grew its stake in TechTarget by 24.9% during the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after buying an additional 70,000 shares during the last quarter. Zions Bancorporation N.A. grew its stake in TechTarget by 18.4% during the 3rd quarter. Zions Bancorporation N.A. now owns 43,594 shares of the information services provider’s stock worth $1,066,000 after buying an additional 6,761 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in TechTarget during the 3rd quarter worth approximately $245,000. Finally, Quest Partners LLC purchased a new position in TechTarget during the 3rd quarter worth approximately $272,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

TechTarget Stock Down 5.2 %

TTGT opened at $15.81 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The business has a 50 day simple moving average of $18.57 and a 200-day simple moving average of $24.19. The stock has a market capitalization of $462.28 million, a P/E ratio of -37.64, a P/E/G ratio of 139.38 and a beta of 1.02. TechTarget, Inc. has a 12 month low of $15.69 and a 12 month high of $33.08.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TTGT shares. Lake Street Capital dropped their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. KeyCorp dropped their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. StockNews.com began coverage on TechTarget in a research note on Monday, February 10th. They set a “hold” rating on the stock. Raymond James cut TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.14.

TechTarget 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.