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

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 587,800 shares, a growth of 19.9% from the January 31st total of 490,200 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average trading volume of 258,000 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TTGT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in TechTarget by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider's stock worth $295,000 after purchasing an additional 698 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of TechTarget by 3.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 22,199 shares of the information services provider's stock valued at $440,000 after buying an additional 747 shares during the period. State of Tennessee Department of Treasury raised its position in shares of TechTarget by 8.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider's stock worth $239,000 after buying an additional 910 shares during the period. KBC Group NV boosted its holdings in TechTarget by 79.1% in the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider's stock valued at $43,000 after acquiring an additional 962 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in TechTarget by 0.3% during the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider's stock valued at $14,955,000 after acquiring an additional 1,602 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

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TechTarget Price Performance

TechTarget stock traded down $0.88 during midday trading on Monday, reaching $13.63. 269,750 shares of the company were exchanged, compared to its average volume of 151,528. TechTarget has a 1 year low of $13.51 and a 1 year high of $35.11. The firm's 50-day simple moving average is $17.00 and its 200-day simple moving average is $22.92. The company has a market capitalization of $398.47 million, a price-to-earnings ratio of -32.45, a P/E/G ratio of 113.92 and a beta of 1.05. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49.

Wall Street Analysts Forecast Growth

TTGT has been the topic of a number of recent analyst reports. KeyCorp cut their price target on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Thursday, November 14th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $18.00 target price on shares of TechTarget in a report on Tuesday, January 21st. Raymond James cut TechTarget from an "outperform" rating to a "market perform" rating in a report on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and set a $40.00 target price on shares of TechTarget in a research report on Wednesday, January 15th. Finally, StockNews.com began coverage on TechTarget in a report on Monday, February 10th. They issued a "hold" rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.14.

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.