O Shaughnessy Asset Management LLC Sells 41,451 Shares of TechTarget Inc (NASDAQ:TTGT)

O Shaughnessy Asset Management LLC cut its position in shares of TechTarget Inc (NASDAQ:TTGT) by 54.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,532 shares of the information services provider’s stock after selling 41,451 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.13% of TechTarget worth $559,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of TechTarget by 86.8% in the fourth quarter. BlackRock Inc. now owns 3,100,548 shares of the information services provider’s stock worth $37,858,000 after buying an additional 1,440,694 shares during the period. Vanguard Group Inc. increased its holdings in TechTarget by 23.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,319,176 shares of the information services provider’s stock worth $25,618,000 after purchasing an additional 249,739 shares during the period. Dimensional Fund Advisors LP increased its holdings in TechTarget by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,011,703 shares of the information services provider’s stock worth $12,353,000 after purchasing an additional 3,586 shares during the period. River Road Asset Management LLC purchased a new position in TechTarget during the 4th quarter worth $5,311,000. Finally, Two Sigma Advisers LP increased its holdings in TechTarget by 24.0% during the 4th quarter. Two Sigma Advisers LP now owns 388,679 shares of the information services provider’s stock worth $4,746,000 after purchasing an additional 75,300 shares during the period. 76.63% of the stock is owned by institutional investors.

In other TechTarget news, Director Don Hawk sold 15,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $19.54, for a total value of $293,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cotoia sold 3,000 shares of the stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $20.78, for a total transaction of $62,340.00. Following the completion of the transaction, the chief executive officer now directly owns 43,923 shares of the company’s stock, valued at $912,719.94. The disclosure for this sale can be found here. Insiders have sold 184,887 shares of company stock valued at $3,754,415 over the last three months. 27.14% of the stock is currently owned by corporate insiders.

TTGT traded up $0.42 on Friday, reaching $21.25. 576,800 shares of the stock were exchanged, compared to its average volume of 245,802. The firm’s 50-day moving average is $20.26. TechTarget Inc has a fifty-two week low of $11.12 and a fifty-two week high of $34.47. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $556.61 million, a price-to-earnings ratio of 47.22 and a beta of 0.82.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, May 8th. The information services provider reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.05. The business had revenue of $29.97 million during the quarter, compared to analyst estimates of $29.32 million. TechTarget had a return on equity of 10.74% and a net margin of 11.41%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. As a group, equities analysts anticipate that TechTarget Inc will post 0.54 earnings per share for the current year.

TTGT has been the topic of several recent research reports. BidaskClub raised TechTarget from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. ValuEngine raised TechTarget from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Craig Hallum raised TechTarget from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday, May 9th. Finally, Zacks Investment Research raised TechTarget from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $26.00.

About TechTarget

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand advertising techniques.

Read More: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for TechTarget (NASDAQ:TTGT)

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