Short Interest in TechTarget, Inc. (NASDAQ:TTGT) Rises By 23.6%

TechTarget, Inc. (NASDAQ:TTGT) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 855,900 shares, an increase of 23.6% from the February 28th total of 692,700 shares. Based on an average trading volume of 238,200 shares, the days-to-cover ratio is presently 3.6 days. Currently, 7.3% of the company’s shares are sold short.

TechTarget Price Performance

TTGT opened at $14.81 on Tuesday. The company’s 50-day simple moving average is $15.58 and its two-hundred day simple moving average is $21.62. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock has a market capitalization of $432.97 million, a P/E ratio of -35.26, a P/E/G ratio of 113.92 and a beta of 1.05. TechTarget has a 52-week low of $13.04 and a 52-week high of $35.11.

Institutional Investors Weigh In On TechTarget

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV lifted its holdings in shares of TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after buying an additional 962 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in TechTarget during the fourth quarter valued at $103,000. MeadowBrook Investment Advisors LLC lifted its holdings in TechTarget by 26.4% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock valued at $169,000 after acquiring an additional 1,780 shares during the period. Quantbot Technologies LP purchased a new position in TechTarget in the fourth quarter worth about $173,000. Finally, State of Tennessee Department of Treasury grew its stake in shares of TechTarget by 8.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock valued at $239,000 after purchasing an additional 910 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC cut their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com began coverage on TechTarget in a research note on Monday, February 10th. They issued a “hold” rating on the stock. Lake Street Capital lowered their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Raymond James cut shares of TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Finally, Craig Hallum decreased their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.