TechTarget, Inc. (NASDAQ:TTGT) Sees Large Increase in Short Interest

TechTarget, Inc. (NASDAQ:TTGT) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 692,700 shares, an increase of 17.8% from the February 13th total of 587,800 shares. Based on an average daily trading volume, of 253,600 shares, the days-to-cover ratio is currently 2.7 days. Currently, 5.9% of the company’s stock are sold short.

TechTarget Price Performance

Shares of TechTarget stock opened at $14.15 on Wednesday. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a twelve month low of $13.04 and a twelve month high of $35.11. The business has a 50-day moving average price of $16.16 and a 200 day moving average price of $22.26. The firm has a market cap of $413.68 million, a PE ratio of -33.69, a P/E/G ratio of 113.92 and a beta of 1.05.

Hedge Funds Weigh In On TechTarget

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in TechTarget by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock worth $295,000 after buying an additional 698 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in 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 worth $440,000 after buying an additional 747 shares in the last quarter. State of Tennessee Department of Treasury increased its stake in TechTarget by 8.2% during 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 in the last quarter. KBC Group NV grew 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 valued at $43,000 after purchasing an additional 962 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of TechTarget by 0.3% in 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 purchasing an additional 1,602 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TTGT. StockNews.com began coverage on TechTarget in a research report on Monday, February 10th. They set a “hold” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of TechTarget in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price target on shares of TechTarget in a research report on Tuesday, January 21st. Lake Street Capital lowered their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Finally, Craig Hallum lowered their price target on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.14.

TechTarget Company 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.