TechTarget, Inc. (NASDAQ:TTGT) Short Interest Down 20.0% in October

TechTarget, Inc. (NASDAQ:TTGT) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 687,500 shares, a decline of 20.0% from the October 15th total of 859,500 shares. Based on an average daily trading volume, of 150,500 shares, the days-to-cover ratio is presently 4.6 days. Approximately 5.4% of the shares of the company are sold short.

TechTarget Stock Down 1.0 %

Shares of TechTarget stock opened at $29.01 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 9.35. The business has a 50-day moving average of $26.56 and a two-hundred day moving average of $28.64. TechTarget has a 1 year low of $22.82 and a 1 year high of $41.93. The company has a market capitalization of $848.25 million, a P/E ratio of -69.07, a price-to-earnings-growth ratio of 31.84 and a beta of 1.03.

Institutional Investors Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp grew its holdings in shares of TechTarget by 2.1% during the first quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock worth $749,000 after buying an additional 456 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of TechTarget during the 1st quarter worth about $501,000. Swiss National Bank boosted its stake in shares of TechTarget by 2.2% during the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock worth $1,671,000 after buying an additional 1,100 shares during the last quarter. Sei Investments Co. increased its position in shares of TechTarget by 4.6% in the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after acquiring an additional 1,432 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in TechTarget by 37.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after acquiring an additional 2,790 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TTGT has been the subject of several research reports. Raymond James reduced their target price on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday. Craig Hallum boosted their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, KeyCorp cut their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.17.

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.