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

Principal Financial Group Inc. lessened its stake in TechTarget, Inc. (NASDAQ:TTGT) by 12.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 121,835 shares of the information services provider’s stock after selling 17,176 shares during the quarter. Principal Financial Group Inc.’s holdings in TechTarget were worth $2,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Impax Asset Management Group plc raised its holdings in shares of TechTarget by 24.9% during the third 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 in the last quarter. Harbor Capital Advisors Inc. grew 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 buying an additional 96,896 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in TechTarget by 10.3% in the third quarter. Rice Hall James & Associates LLC now owns 267,592 shares of the information services provider’s stock worth $6,543,000 after buying an additional 25,047 shares during the last quarter. Inspire Investing LLC increased its holdings in TechTarget by 48.1% in the third quarter. Inspire Investing LLC now owns 16,856 shares of the information services provider’s stock worth $412,000 after buying an additional 5,477 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in TechTarget during the third quarter valued at approximately $307,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

TechTarget Stock Up 4.8 %

TechTarget stock opened at $32.44 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. TechTarget, Inc. has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The firm has a fifty day moving average price of $27.17 and a two-hundred day moving average price of $28.71. The firm has a market cap of $948.55 million, a price-to-earnings ratio of -73.69, a P/E/G ratio of 28.11 and a beta of 1.03.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The business had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same period in the previous year, the company posted $0.13 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts forecast that TechTarget, Inc. will post 0.61 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Craig Hallum increased their price target on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lowered their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Raymond James cut their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TechTarget has a consensus rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Profile

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.