KLP Kapitalforvaltning AS Invests $103,000 in TechTarget, Inc. (NASDAQ:TTGT)

KLP Kapitalforvaltning AS purchased a new stake in TechTarget, Inc. (NASDAQ:TTGT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,200 shares of the information services provider’s stock, valued at approximately $103,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Impax Asset Management Group plc raised its stake in shares of TechTarget by 21.3% during the fourth quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock worth $8,451,000 after purchasing an additional 75,000 shares during the last quarter. Barclays PLC raised its position in TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after buying an additional 36,714 shares during the last quarter. M&T Bank Corp lifted its stake in shares of TechTarget by 54.0% in the 3rd quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock worth $795,000 after acquiring an additional 11,398 shares during the period. Quantbot Technologies LP purchased a new stake in shares of TechTarget in the fourth quarter valued at about $173,000. Finally, Acuitas Investments LLC increased its stake in shares of TechTarget by 29.5% during the fourth quarter. Acuitas Investments LLC now owns 36,332 shares of the information services provider’s stock worth $720,000 after acquiring an additional 8,271 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Stock Performance

NASDAQ:TTGT opened at $8.07 on Friday. 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 company has a market capitalization of $235.93 million, a P/E ratio of -19.21, a price-to-earnings-growth ratio of 113.92 and a beta of 1.03. The firm has a 50-day moving average price of $13.99 and a two-hundred day moving average price of $20.61. TechTarget, Inc. has a twelve month low of $8.00 and a twelve month high of $35.11.

Analysts Set New Price Targets

A number of brokerages have weighed in on TTGT. Needham & Company LLC lowered their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Lake Street Capital reduced their target price on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Craig Hallum lowered their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price objective on shares of TechTarget in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.00.

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.