Short Interest in TechTarget Inc (NASDAQ:TTGT) Expands By 12.4%

TechTarget Inc (NASDAQ:TTGT) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,630,000 shares, an increase of 12.4% from the December 15th total of 1,450,000 shares. Based on an average daily volume of 154,200 shares, the days-to-cover ratio is presently 10.6 days. Approximately 7.0% of the shares of the company are sold short.

NASDAQ TTGT opened at $26.11 on Wednesday. The firm has a 50-day moving average of $25.75 and a 200-day moving average of $24.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.46 and a current ratio of 5.46. The stock has a market cap of $731.36 million, a PE ratio of 58.01, a P/E/G ratio of 1.55 and a beta of 0.75. TechTarget has a 52-week low of $12.46 and a 52-week high of $30.00.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, November 6th. The information services provider reported $0.16 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.16. TechTarget had a net margin of 11.73% and a return on equity of 9.55%. The business had revenue of $33.81 million for the quarter, compared to analyst estimates of $33.60 million. As a group, analysts predict that TechTarget will post 0.69 EPS for the current fiscal year.

In related news, CFO Daniel T. Noreck sold 3,500 shares of TechTarget stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $28.78, for a total transaction of $100,730.00. Following the completion of the transaction, the chief financial officer now owns 10,257 shares in the company, valued at $295,196.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger M. Marino sold 43,826 shares of TechTarget stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $25.49, for a total value of $1,117,124.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 247,371 shares of company stock worth $6,490,909. 18.68% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in TechTarget by 19.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 56,340 shares of the information services provider’s stock worth $1,198,000 after purchasing an additional 9,230 shares during the last quarter. Mason Street Advisors LLC grew its holdings in TechTarget by 7.1% in the 3rd quarter. Mason Street Advisors LLC now owns 7,793 shares of the information services provider’s stock valued at $176,000 after buying an additional 516 shares in the last quarter. California State Teachers Retirement System grew its holdings in TechTarget by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 35,372 shares of the information services provider’s stock valued at $797,000 after buying an additional 423 shares in the last quarter. Voya Investment Management LLC bought a new position in TechTarget during the 3rd quarter worth $201,000. Finally, Comerica Bank increased its position in TechTarget by 5.3% during the 3rd quarter. Comerica Bank now owns 21,455 shares of the information services provider’s stock worth $498,000 after buying an additional 1,078 shares during the period. Hedge funds and other institutional investors own 72.52% of the company’s stock.

A number of analysts have recently issued reports on TTGT shares. BidaskClub cut TechTarget from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 7th. Zacks Investment Research lowered TechTarget from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Lake Street Capital increased their price target on TechTarget from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, ValuEngine downgraded TechTarget from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. TechTarget has a consensus rating of “Hold” and an average price target of $26.67.

TechTarget Company 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 advertising techniques.

Featured Story: S&P 500 Index

Receive News & Ratings for TechTarget Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechTarget and related companies with MarketBeat.com's FREE daily email newsletter.