Principal Financial Group Inc. Has $2.98 Million Stake in TechTarget, Inc. (NASDAQ:TTGT)

Principal Financial Group Inc. trimmed its stake in TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,835 shares of the information services provider's stock after selling 17,176 shares during the quarter. Principal Financial Group Inc. owned 0.42% of TechTarget worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of TTGT. Harbor Capital Advisors Inc. lifted its stake in shares of 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 purchasing an additional 96,896 shares during the last quarter. Impax Asset Management Group plc lifted its position 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 acquiring an additional 70,000 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in TechTarget by 21.2% during the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider's stock valued at $7,560,000 after acquiring an additional 42,374 shares during the period. Earnest Partners LLC increased its stake in shares of TechTarget by 6.3% in the second 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 during the period. Finally, SG Americas Securities LLC acquired a new position in shares of TechTarget during the 3rd quarter worth about $307,000. Institutional investors and hedge funds own 93.52% of the company's stock.

TechTarget Price Performance

NASDAQ:TTGT traded up $1.49 during mid-day trading on Friday, hitting $32.44. The company's stock had a trading volume of 180,920 shares, compared to its average volume of 137,693. The company has a market capitalization of $948.55 million, a price-to-earnings ratio of -77.24, a P/E/G ratio of 17.47 and a beta of 1.03. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget, Inc. has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The stock has a fifty day moving average of $27.33 and a 200-day moving average of $28.73.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.05. The business had revenue of $58.47 million during the quarter, compared to analysts' expectations of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. TechTarget'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 analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on TTGT shares. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Craig Hallum boosted their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Raymond James decreased their target price on TechTarget from $39.00 to $34.00 and set an "outperform" rating on the stock in a research report on Monday, August 12th. Finally, KeyCorp cut their price target on TechTarget from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, TechTarget has an average rating of "Moderate Buy" and a consensus target price of $38.17.

About TechTarget

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.