TechTarget, Inc. (NASDAQ:TTGT) Short Interest Update

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 687,500 shares, a drop of 20.0% from the October 15th total of 859,500 shares. Approximately 5.4% of the company's stock are short sold. Based on an average trading volume of 150,500 shares, the days-to-cover ratio is currently 4.6 days.

Analysts Set New Price Targets

TTGT has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $40.00 price target on shares of TechTarget in a research report on Wednesday. KeyCorp decreased their target price on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Thursday. 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 research note on Wednesday. Finally, Raymond James reduced their price target on TechTarget from $39.00 to $34.00 and set an "outperform" rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TechTarget has an average rating of "Moderate Buy" and a consensus target price of $38.17.

Hedge Funds Weigh In On TechTarget

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position 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 worth $3,921,000 after purchasing an additional 96,896 shares during the period. Rockefeller Capital Management L.P. boosted its position in TechTarget by 19.2% during the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider's stock valued at $12,545,000 after acquiring an additional 82,626 shares during the last quarter. Impax Asset Management Group plc grew its holdings 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 period. ArrowMark Colorado Holdings LLC raised its position in shares of TechTarget by 31.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider's stock worth $6,780,000 after acquiring an additional 66,766 shares in the last quarter. Finally, FMR LLC boosted its position in shares of TechTarget by 2.5% during the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider's stock valued at $60,042,000 after purchasing an additional 60,191 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

TechTarget Price Performance

TechTarget stock traded down $0.29 during mid-day trading on Friday, reaching $29.01. The company had a trading volume of 185,419 shares, compared to its average volume of 129,258. The company has a market cap of $848.25 million, a P/E ratio of -69.07, a P/E/G ratio of 31.84 and a beta of 1.03. TechTarget has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The company has a current ratio of 10.49, a quick ratio of 9.35 and a debt-to-equity ratio of 1.65. The business has a fifty day simple moving average of $26.56 and a 200 day simple moving average of $28.64.

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.