Trigran Investments buys $20,342,508 stake in TechTarget Inc (TTGT)

TechTarget Inc (TTGT) : Trigran Investments scooped up 88,281 additional shares in TechTarget Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 2,628,231 shares of TechTarget Inc which is valued at $20,342,508.TechTarget Inc makes up approximately 5.12% of Trigran Investments’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Investment Management reduced its stake in TTGT by selling 8,201 shares or 11.36% in the most recent quarter. The Hedge Fund company now holds 64,020 shares of TTGT which is valued at $495,515.Blackrock Fund Advisors reduced its stake in TTGT by selling 13,837 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 485,863 shares of TTGT which is valued at $3,760,580. Gsa Capital Partners Llp added TTGT to its portfolio by purchasing 10,772 company shares during the most recent quarter which is valued at $98,456. TechTarget Inc makes up approx 0.01% of Gsa Capital Partners Llp’s portfolio.

TechTarget Inc opened for trading at $7.85 and hit $8.0599 on the upside on Tuesday, eventually ending the session at $8, with a gain of 2.04% or 0.16 points. The heightened volatility saw the trading volume jump to 76,124 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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