Trigran Investments Inc. Sells 45,315 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Trigran Investments Inc. trimmed its stake in shares of TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,759,509 shares of the information services provider's stock after selling 45,315 shares during the period. TechTarget comprises about 8.6% of Trigran Investments Inc.'s holdings, making the stock its 3rd biggest holding. Trigran Investments Inc. owned 12.86% of TechTarget worth $74,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TTGT. KBC Group NV boosted its position in shares of TechTarget by 79.1% in 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 during the period. KLP Kapitalforvaltning AS acquired a new stake in TechTarget during the 4th quarter worth about $103,000. MeadowBrook Investment Advisors LLC lifted its position in shares of TechTarget by 26.4% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider's stock worth $169,000 after purchasing an additional 1,780 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of TechTarget during the fourth quarter worth approximately $173,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of TechTarget during the fourth quarter worth approximately $377,000. Institutional investors and hedge funds own 93.52% of the company's stock.

TechTarget Stock Performance

TTGT traded down $0.12 on Friday, hitting $7.68. The company had a trading volume of 143,278 shares, compared to its average volume of 186,798. The stock has a market cap of $224.44 million, a price-to-earnings ratio of -18.29, a price-to-earnings-growth ratio of 113.92 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The company's fifty day moving average price is $12.12 and its 200 day moving average price is $19.53. TechTarget, Inc. has a 1-year low of $6.95 and a 1-year high of $35.11.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TTGT shares. Craig Hallum decreased their target price on shares of TechTarget from $40.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Needham & Company LLC lowered their target price on TechTarget from $40.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Raymond James downgraded TechTarget from an "outperform" rating to a "market perform" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.00 price target on shares of TechTarget in a research note on Tuesday, January 21st. Finally, Lake Street Capital cut their price objective on shares of TechTarget from $24.00 to $12.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $26.29.

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.