Principal Financial Group Inc. Raises Stock Position in TechTarget, Inc. (NASDAQ:TTGT)

Principal Financial Group Inc. raised its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,517 shares of the information services provider’s stock after purchasing an additional 7,105 shares during the quarter. Principal Financial Group Inc.’s holdings in TechTarget were worth $2,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in shares of TechTarget by 30.3% during the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock valued at $19,380,000 after buying an additional 227,459 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TechTarget by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider’s stock valued at $15,977,000 after buying an additional 11,646 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of TechTarget by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 632,704 shares of the information services provider’s stock valued at $12,543,000 after buying an additional 21,191 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of TechTarget by 13.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 581,430 shares of the information services provider’s stock valued at $11,524,000 after buying an additional 68,364 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of TechTarget by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 542,877 shares of the information services provider’s stock valued at $10,760,000 after buying an additional 3,710 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

TechTarget Stock Performance

NASDAQ:TTGT opened at $6.94 on Friday. The stock’s fifty day moving average is $7.43 and its 200 day moving average is $11.52. TechTarget, Inc. has a fifty-two week low of $6.49 and a fifty-two week high of $33.96. The firm has a market capitalization of $496.14 million, a PE ratio of -16.52 and a beta of 1.02.

TechTarget (NASDAQ:TTGT) last released its earnings results on Monday, July 14th. The information services provider reported ($2.24) earnings per share for the quarter. TechTarget had a negative return on equity of 125.41% and a negative net margin of 193.29%. The business had revenue of $103.89 million during the quarter. Equities analysts forecast that TechTarget, Inc. will post -0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

TTGT has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of TechTarget from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $18.00 to $8.00 in a research note on Tuesday, June 10th. Lake Street Capital dropped their price target on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of TechTarget in a research note on Wednesday, July 2nd. Craig Hallum initiated coverage on shares of TechTarget in a research note on Monday, June 9th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Wall Street Zen upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Saturday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.33.

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.