Short Interest Change: What Next for Techtarget Incorporated (NASDAQ:TTGT) Stock After Decrease in Shorted Shares?

November 18, 2016 - By Adrian Mccoy   ·   0 Comments

Short Interest Change: What Next for Techtarget Incorporated (NASDAQ:TTGT) Stock After Decrease in Shorted Shares?

The stock of Techtarget Incorporated (NASDAQ:TTGT) registered a decrease of 8.06% in short interest. TTGT’s total short interest was 507,700 shares in November as published by FINRA. Its down 8.06% from 552,200 shares, reported previously. With 89,200 shares average volume, it will take short sellers 6 days to cover their TTGT’s short positions. The short interest to Techtarget Incorporated’s float is 3.8%. About 1 shares traded hands. TechTarget Inc (NASDAQ:TTGT) has risen 9.58% since April 18, 2016 and is uptrending. It has outperformed by 5.15% the S&P500.

TechTarget, Inc. provides online content that helps buyers and sellers of corporate information technology services and products. The company has a market cap of $230.62 million. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising. It has a 65.12 P/E ratio. The Company’s Websites focuses on IT sectors, such as storage, security or networking and for decision support information.

Insitutional Activity: The institutional sentiment decreased to 0.91 in 2016 Q2. Its down 0.30, from 1.21 in 2016Q1. The ratio dived, as 8 funds sold all TechTarget Inc shares owned while 20 reduced positions. 11 funds bought stakes while 23 increased positions. They now own 16.26 million shares or 16.16% less from 19.40 million shares in 2016Q1.
Moreover, S Squared Techs Ltd Com has 1.32% invested in TechTarget Inc (NASDAQ:TTGT) for 155,306 shares. Moreover, Renaissance Technologies Limited Com has 0% invested in TechTarget Inc (NASDAQ:TTGT) for 292,100 shares. Ny State Common Retirement Fund last reported 18,000 shares in the company. Teachers last reported 0% of its portfolio in the stock. Next Century Growth Ltd Liability Co holds 0.22% of its portfolio in TechTarget Inc (NASDAQ:TTGT) for 591,226 shares. Rhumbline Advisers, a Massachusetts-based fund reported 21,113 shares. Pnc Financial Serv Grp Inc has 0% invested in the company for 148 shares. Barclays Public Limited Liability Co last reported 38 shares in the company. State Street, a Massachusetts-based fund reported 231,238 shares. Moreover, Panagora Asset Mgmt Inc has 0% invested in TechTarget Inc (NASDAQ:TTGT) for 88,946 shares. Tower Research Cap Ltd Liability (Trc) accumulated 0% or 1,589 shares. Landscape Capital Mngmt Lc has 0.01% invested in the company for 13,746 shares. Millennium Mngmt Ltd Liability Com accumulated 0% or 34,517 shares. Moreover, Deutsche Bankshares Ag has 0% invested in TechTarget Inc (NASDAQ:TTGT) for 8,285 shares. Simcoe Cap Limited Liability accumulated 1.18M shares or 5.41% of the stock.

Insider Transactions: Since May 20, 2016, the stock had 3 insider buys, and 11 insider sales for $28.61 million net activity. 2.25M shares were sold by HOAG JAY C, worth $18.56M. Hawk Don sold $163,490 worth of stock. Another trade for 15,773 shares valued at $123,029 was bought by Nine Ten Partners LP. 1,917 shares were sold by Beam Kevin, worth $15,336 on Thursday, July 7. On Monday, June 13 the insider Kelliher Janice sold $294,962. Another trade for 9,394 shares valued at $70,361 was made by Nine Ten Capital Management LLC on Wednesday, August 10. Cotoia Michael had sold 21,836 shares worth $174,816 on Tuesday, August 23.

TechTarget Inc (NASDAQ:TTGT) Ratings Coverage

Out of 5 analysts covering TechTarget (NASDAQ:TTGT), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. TechTarget has been the topic of 6 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Sidoti on Wednesday, July 20. Lake Street maintained the shares of TTGT in a report on Thursday, November 10 with “Buy” rating. Needham maintained the stock with “Buy” rating in Thursday, February 11 report. TheStreet upgraded TechTarget Inc (NASDAQ:TTGT) on Friday, August 7 to “Hold” rating. Craig Hallum downgraded the stock to “Hold” rating in Wednesday, August 10 report.

TTGT Company Profile

TechTarget, Inc., incorporated on September 14, 1999, is a well-known provider of online content that helps buyers and sellers of corporate information technology (IT) services and products. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising. The Firm 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 content enables IT professionals to navigate the IT landscape where purchasing decisions can have financial and operational consequences. Based upon the logical clustering of users’ respective job responsibilities and the marketing focus of the products that the Company’s clients are advertising, the Company’s marketing opportunities and audience extensions are addressed using approximately nine distinct media groups, including 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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By Adrian Mccoy


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