Norges Bank Acquires New Position in TechTarget, Inc. (NASDAQ:TTGT)

Norges Bank purchased a new stake in TechTarget, Inc. (NASDAQ:TTGT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 68,804 shares of the information services provider's stock, valued at approximately $1,364,000. Norges Bank owned 0.24% of TechTarget at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. KBC Group NV boosted its holdings in TechTarget by 79.1% during the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider's stock worth $43,000 after buying an additional 962 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in TechTarget in the fourth quarter valued at approximately $103,000. MeadowBrook Investment Advisors LLC lifted its position in shares of TechTarget by 26.4% during the 4th quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider's stock valued at $169,000 after buying an additional 1,780 shares in the last quarter. Quantbot Technologies LP acquired a new stake in TechTarget in the 4th quarter valued at $173,000. Finally, BNP Paribas Financial Markets raised its position in TechTarget by 31.7% during the third quarter. BNP Paribas Financial Markets now owns 13,545 shares of the information services provider's stock worth $331,000 after acquiring an additional 3,260 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Lake Street Capital cut their price objective on TechTarget from $24.00 to $12.00 and set a "buy" rating for the company in a research note on Wednesday. Craig Hallum reduced their target price on shares of TechTarget from $40.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Needham & Company LLC lowered their price target on shares of TechTarget from $40.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price objective on shares of TechTarget in a report on Tuesday, January 21st. Finally, StockNews.com initiated coverage on TechTarget in a research report on Monday, February 10th. They issued a "hold" rating for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, TechTarget currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.29.

TechTarget Trading Down 2.3 %

NASDAQ TTGT traded down $0.20 on Thursday, reaching $8.21. The stock had a trading volume of 372,621 shares, compared to its average volume of 176,669. TechTarget, Inc. has a 12-month low of $7.61 and a 12-month high of $35.11. The stock has a fifty day moving average price of $13.21 and a two-hundred day moving average price of $20.20. The firm has a market capitalization of $239.87 million, a price-to-earnings ratio of -19.52, a P/E/G ratio of 113.92 and a beta of 1.03. 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 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.