Thrivent Financial for Lutherans Takes Position in TechTarget Inc (TTGT)

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Thrivent Financial for Lutherans bought a new position in TechTarget Inc (NASDAQ:TTGT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,426 shares of the information services provider’s stock, valued at approximately $188,000. Thrivent Financial for Lutherans owned approximately 0.06% of TechTarget as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TTGT. JPMorgan Chase & Co. increased its holdings in TechTarget by 1,229.9% in the third quarter. JPMorgan Chase & Co. now owns 54,870 shares of the information services provider’s stock worth $1,065,000 after purchasing an additional 50,744 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in TechTarget by 11.5% in the third quarter. Bank of New York Mellon Corp now owns 94,599 shares of the information services provider’s stock worth $1,837,000 after purchasing an additional 9,764 shares in the last quarter. Credit Suisse AG increased its holdings in TechTarget by 113.2% in the third quarter. Credit Suisse AG now owns 43,411 shares of the information services provider’s stock worth $843,000 after purchasing an additional 23,054 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in TechTarget by 15.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,008,117 shares of the information services provider’s stock worth $19,578,000 after purchasing an additional 133,529 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in TechTarget by 154.5% in the third quarter. Allianz Asset Management GmbH now owns 221,869 shares of the information services provider’s stock worth $4,309,000 after purchasing an additional 134,688 shares in the last quarter. Institutional investors and hedge funds own 75.63% of the company’s stock.

In related news, insider Greg Strakosch sold 95,982 shares of the company’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $14.01, for a total transaction of $1,344,707.82. Following the completion of the sale, the insider now owns 437,242 shares in the company, valued at $6,125,760.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce Levenson sold 29,319 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $15.86, for a total value of $464,999.34. Following the sale, the director now owns 42,987 shares of the company’s stock, valued at approximately $681,773.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,151 shares of company stock valued at $3,153,932. Corporate insiders own 27.14% of the company’s stock.

Several research firms have recently commented on TTGT. Zacks Investment Research upgraded TechTarget from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. BidaskClub downgraded TechTarget from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, ValuEngine upgraded TechTarget from a “sell” rating to a “hold” rating in a report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.00.

NASDAQ TTGT opened at $15.78 on Thursday. The company has a market cap of $445.21 million, a PE ratio of 35.07 and a beta of 1.08. TechTarget Inc has a 52 week low of $11.12 and a 52 week high of $34.47. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.18.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, February 6th. The information services provider reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The firm had revenue of $31.82 million during the quarter, compared to the consensus estimate of $31.37 million. TechTarget had a return on equity of 10.06% and a net margin of 10.68%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, equities analysts anticipate that TechTarget Inc will post 0.54 earnings per share for the current fiscal year.

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TechTarget Profile

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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Institutional Ownership by Quarter for TechTarget (NASDAQ:TTGT)

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