Renaissance Technologies LLC Increases Position in TechTarget, Inc. (NASDAQ:TTGT)

Renaissance Technologies LLC raised its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 542,877 shares of the information services provider’s stock after buying an additional 3,710 shares during the period. Renaissance Technologies LLC’s holdings in TechTarget were worth $10,760,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Impax Asset Management Group plc boosted its holdings in TechTarget by 21.3% during the 4th quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock valued at $8,451,000 after acquiring an additional 75,000 shares during the period. Norges Bank acquired a new stake in shares of TechTarget during the fourth quarter worth about $1,364,000. Barclays PLC boosted its stake in shares of TechTarget by 399.1% in the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after purchasing an additional 36,714 shares during the period. Geode Capital Management LLC grew its holdings in shares of TechTarget by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 632,704 shares of the information services provider’s stock valued at $12,543,000 after purchasing an additional 21,191 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in TechTarget during the 4th quarter worth approximately $377,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com initiated coverage on shares of TechTarget in a research report on Monday, February 10th. They issued a “hold” rating for the company. Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Lake Street Capital cut their price target on TechTarget from $24.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price objective on shares of TechTarget in a research note on Tuesday, January 21st. Finally, Craig Hallum lowered their price objective 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, TechTarget currently has a consensus rating of “Moderate Buy” and an average target price of $26.29.

TechTarget Trading Up 3.8 %

NASDAQ:TTGT opened at $8.40 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. TechTarget, Inc. has a 1 year low of $7.66 and a 1 year high of $35.11. The stock has a market cap of $245.57 million, a P/E ratio of -20.00, a P/E/G ratio of 113.92 and a beta of 1.03. The stock has a 50-day simple moving average of $13.21 and a 200-day simple moving average of $20.20.

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.