Technology Crossover Management V Exits Position in TechTarget Inc (TTGT)

TechTarget Inc (TTGT) : Technology Crossover Management V has sold out all of its stake in TechTarget Inc during the most recent quarter, according to the disclosure filed by the company on Aug 10, 2016 with the SEC. The investment management company has sold out 5,562,160 shares of TechTarget Inc which is valued at $43,051,118.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in TTGT in the latest quarter, The investment management firm added 22,777 additional shares and now holds a total of 578,321 shares of TechTarget Inc which is valued at $4,476,205.Acrospire Investment Management boosted its stake in TTGT in the latest quarter, The investment management firm added 5,714 additional shares and now holds a total of 9,437 shares of TechTarget Inc which is valued at $84,556. TechTarget Inc makes up approx 0.06% of Acrospire Investment Management’s portfolio.Oxford Asset Management reduced its stake in TTGT by selling 6,789 shares or 6.96% in the most recent quarter. The Hedge Fund company now holds 90,685 shares of TTGT which is valued at $708,250. TechTarget Inc makes up approx 0.03% of Oxford Asset Management’s portfolio.Strs Ohio boosted its stake in TTGT in the latest quarter, The investment management firm added 4,500 additional shares and now holds a total of 72,700 shares of TechTarget Inc which is valued at $663,024. Ibm Retirement Fund sold out all of its stake in TTGT during the most recent quarter. The investment firm sold 17,033 shares of TTGT which is valued $153,638.

TechTarget Inc opened for trading at $7.89 and hit $8.11 on the upside on Friday, eventually ending the session at $8, with a gain of 0.88% or 0.07 points. The heightened volatility saw the trading volume jump to 1,42,999 shares. Company has a market cap of $218 M.

On the company’s financial health, TechTarget Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.10. The company had revenue of $29.17 million for the quarter, compared to analysts expectations of $29.56 million. The company’s revenue was down -2.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on TechTarget Inc. TechTarget Inc was Downgraded by Craig Hallum to ” Hold” on Aug 10, 2016. Shares were Reiterated by Needham on Aug 10, 2016 to “Buy” and Lowered the Price Target to $ 10 from a previous price target of $12 .Sidoti Initiated TechTarget Inc on Jul 20, 2016 to “Buy”, Price Target of the shares are set at $12.

TechTarget Inc. is a provider of online content and brand advertising that brings together buyers and sellers of corporate information technology (IT) products and services. The Company offers a number of data analytics solutions. The Company operates a network of over 150 Websites each of which focuses on a specific IT sector such as storage security or networking and for decision support information. The Company’s integrated content platform consists of a network of Websites. Based upon the logical clustering of users’ respective job responsibilities and the marketing focus of the products that the Company’s customers are advertising the Company’s marketing opportunities and audience extensions are addressed using nine distinct media groups such as Application Architecture and Development; Channel; CIO/IT Strategy; Data Center and Virtualization Technologies; Business Applications and Analytics; Networking; Security; Storage and TechnologyGuide.

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