Norges Bank Makes New $1.36 Million Investment in TechTarget, Inc. (NASDAQ:TTGT)

Norges Bank acquired a new stake in shares of TechTarget, Inc. (NASDAQ:TTGT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 68,804 shares of the information services provider’s stock, valued at approximately $1,364,000.

A number of other institutional investors also recently modified their holdings of the company. KBC Group NV grew its position in TechTarget by 79.1% in the 4th 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 during the period. KLP Kapitalforvaltning AS acquired a new position in shares of TechTarget during the fourth quarter valued at about $103,000. MeadowBrook Investment Advisors LLC grew its holdings in shares of TechTarget by 26.4% during the fourth quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock valued at $169,000 after buying an additional 1,780 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of TechTarget during the fourth quarter worth about $173,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of TechTarget by 31.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,545 shares of the information services provider’s stock worth $331,000 after acquiring an additional 3,260 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $7.85 on Friday. TechTarget, Inc. has a fifty-two week low of $7.66 and a fifty-two week high of $35.11. The company’s 50-day moving average is $13.80 and its 200 day moving average is $20.50. The company has a market capitalization of $229.49 million, a P/E ratio of -18.69, a price-to-earnings-growth ratio of 113.92 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49.

Analyst Upgrades and Downgrades

TTGT has been the subject of a number of analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price target on shares of TechTarget in a research note on Tuesday, January 21st. StockNews.com initiated coverage on TechTarget in a research report on Monday, February 10th. They set a “hold” rating on the stock. 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. Raymond James downgraded shares of TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Finally, Lake Street Capital dropped their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, TechTarget presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

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.