Principal Financial Group Inc. Sells 17,176 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Principal Financial Group Inc. reduced its stake in TechTarget, Inc. (NASDAQ:TTGT) by 12.4% during the third quarter, Holdings Channel.com reports. The firm owned 121,835 shares of the information services provider’s stock after selling 17,176 shares during the period. Principal Financial Group Inc.’s holdings in TechTarget were worth $2,979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TTGT. BOKF NA bought a new stake in shares of TechTarget in the second quarter worth about $239,000. The Manufacturers Life Insurance Company lifted its holdings in TechTarget by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after buying an additional 430 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of TechTarget in the 3rd quarter worth approximately $245,000. Intech Investment Management LLC purchased a new position in shares of TechTarget during the third quarter valued at approximately $257,000. Finally, Quest Partners LLC bought a new position in shares of TechTarget during the third quarter valued at approximately $272,000. Institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on TTGT shares. KeyCorp reduced their price objective 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. 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. Lake Street Capital cut their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. Finally, StockNews.com began coverage on TechTarget in a research report on Wednesday. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, TechTarget presently has an average rating of “Moderate Buy” and an average target price of $36.14.

TechTarget Trading Up 3.0 %

NASDAQ TTGT opened at $19.98 on Friday. The stock’s fifty day moving average price is $26.01 and its 200-day moving average price is $27.32. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a market cap of $584.12 million, a P/E ratio of -47.57, a P/E/G ratio of 12.04 and a beta of 1.04. TechTarget, Inc. has a 12 month low of $18.26 and a 12 month high of $33.08.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. TechTarget’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.13 EPS. As a group, equities analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

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.