Palestra Capital Management LLC Acquires Shares of 28,156 ServiceTitan Inc. (NASDAQ:TTAN)

Palestra Capital Management LLC acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,156 shares of the company's stock, valued at approximately $2,896,000.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in ServiceTitan during the 4th quarter worth $26,000. Assetmark Inc. purchased a new stake in ServiceTitan in the fourth quarter valued at approximately $67,000. FIL Ltd acquired a new stake in shares of ServiceTitan in the fourth quarter worth $67,000. Tower Research Capital LLC TRC acquired a new stake in ServiceTitan during the fourth quarter worth about $91,000. Finally, Insight Holdings Group LLC acquired a new position in shares of ServiceTitan in the fourth quarter worth about $103,000.

Insider Buying and Selling

In other ServiceTitan news, CFO David Sherry sold 10,175 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $963,063.75. Following the completion of the transaction, the chief financial officer now owns 325,409 shares in the company, valued at $30,799,961.85. The trade was a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michele O'connor sold 5,494 shares of ServiceTitan stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $520,007.10. Following the sale, the chief accounting officer now directly owns 89,302 shares of the company's stock, valued at approximately $8,452,434.30. This trade represents a 5.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several brokerages recently weighed in on TTAN. Morgan Stanley lifted their price target on ServiceTitan from $104.00 to $107.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. TD Cowen assumed coverage on ServiceTitan in a research report on Tuesday, April 8th. They set a "buy" rating and a $120.00 target price on the stock. Canaccord Genuity Group boosted their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and set a $125.00 price objective on shares of ServiceTitan in a report on Friday, March 14th. Finally, Loop Capital lowered their price objective on ServiceTitan from $105.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $118.23.

ServiceTitan Trading Down 0.1 %

Shares of NASDAQ TTAN traded down $0.13 during mid-day trading on Monday, hitting $117.76. The company had a trading volume of 213,146 shares, compared to its average volume of 384,066. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $128.16. The business's 50-day moving average price is $100.43.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.