Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Discovery Group Unwinds Techtarget Inc (TTGT) Investment

Page 1 of 9

Discovery Group, managed by Michael Murphy and Daniel Donoghue, has liquidated its position in Techtarget Inc (NASDAQ:TTGT) according to an amended filing with the Securities and Exchange Commission. On May 12, the fund had reported ownership of 1.65 million shares or 5.11% of the company’s common stock.

Techtarget Inc (NASDAQ:TTGT) has recently announced a share buyback program of up to $20 million, after it managed to buy back roughly 5.24 million shares at $7.75 apiece as part of a tender offer that expired on June 8. The company reported first quarter financial results on May 9, managing to surpass analysts’ expectations. Techtarget posted $25 million in revenues, up by 5.8% year-over-year, and a profit of $0.04 per share. Since the start of the year, the stock fell as much as 25% before slowly recovering and is currently up by 2.5% for the year.

Among the funds followed by Insider Monkey, Techtarget is not a very popular stock and hedge fund interest towards the company decreased even further during the first quarter. Whereas Techtarget Inc (NASDAQ:TTGT) was held by 17 funds at the end of December, by the end of the first quarter only 11 funds were invested, holding approximately 23% of the company’s common stock. Douglas T. Granat‘s Trigran Investments is betting big on Techtarget and, according to its latest 13F filing, it holds 2.54 million shares, up by 53% during the first quarter, valued at $18.8 million.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Discovery Equity Partners 0 0 0 0.0%
Discovery Group I 0 0 0 0.0%
Daniel J. Donoghue 0 0 0 0.0%
Michael R. Murphy 0 0 0 0.0%

Page 1 of 9 – SEC Filing

UNITED
STATES

SECURITIES
AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

(Rule 13d-101)

 

INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS
THERETO FILED

PURSUANT TO § 240.13d-2(a)

 

UNDER THE SECURITIES
EXCHANGE ACT OF 1934

(Amendment No. 1)*

 

TechTarget,
Inc.

(Name of Issuer)

 

Common Stock, par value $0.001 per share

(Title of Class of
Securities)

 

87874R100

(CUSIP Number)

Michael R. Murphy

Discovery Group I, LLC

300 South Wacker Drive

Suite 600

Chicago, Illinois 60606

Telephone Number: (312) 265-9600

(Name, Address and
Telephone Number of Person
Authorized to Receive Notices and Communications)

June 10, 2016

(Date of Event which
Requires Filing of this Statement)

If the filing person has previously filed a statement
on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. ¨

Note: Schedules filed in paper format shall
include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom
copies are to be sent.

*The remainder of this cover page shall
be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any
subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this
cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).

Follow Techtarget Inc (NASDAQ:TTGT)
Trade (NASDAQ:TTGT) Now!
Page 1 of 9
Loading Comments...