Short Interest in TechTarget, Inc. (NASDAQ:TTGT) Declines By 52.9%

TechTarget, Inc. (NASDAQ:TTGT) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 499,100 shares, a decrease of 52.9% from the November 30th total of 1,060,000 shares. Based on an average trading volume of 353,200 shares, the short-interest ratio is presently 1.4 days.

Institutional Trading of TechTarget

Institutional investors have recently made changes to their positions in the business. Earnest Partners LLC lifted its holdings in TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after purchasing an additional 29,375 shares in the last quarter. LMR Partners LLP bought a new position in shares of TechTarget during the third quarter worth $526,000. Impax Asset Management Group plc grew its stake in TechTarget by 24.9% during the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 70,000 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after acquiring an additional 96,896 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in TechTarget by 19.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock worth $12,545,000 after purchasing an additional 82,626 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

TechTarget Stock Performance

TTGT traded up $0.59 during midday trading on Friday, reaching $19.48. The company had a trading volume of 211,206 shares, compared to its average volume of 338,342. The business has a 50-day moving average of $26.97 and a two-hundred day moving average of $27.71. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a 1 year low of $18.26 and a 1 year high of $33.08. The company has a market cap of $569.50 million, a P/E ratio of -46.38, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. The company had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS. As a group, equities research analysts predict that TechTarget will post 0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. KeyCorp reduced their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Craig Hallum raised their price target on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. StockNews.com started coverage on TechTarget in a research report on Tuesday. They set a “hold” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, TechTarget has a consensus rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Company 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.