50,152 Shares in ServiceTitan Inc. (NASDAQ:TTAN) Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC acquired a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 50,152 shares of the company's stock, valued at approximately $5,159,000. Lord Abbett & CO. LLC owned approximately 0.07% of ServiceTitan at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Battery Management Corp. acquired a new stake in shares of ServiceTitan during the fourth quarter worth approximately $496,599,000. Price T Rowe Associates Inc. MD acquired a new position in ServiceTitan during the 4th quarter worth $233,937,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of ServiceTitan in the 4th quarter worth about $89,529,000. TimesSquare Capital Management LLC acquired a new stake in shares of ServiceTitan in the 4th quarter valued at about $87,896,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of ServiceTitan during the fourth quarter worth about $71,155,000.

ServiceTitan Price Performance

ServiceTitan stock traded up $2.02 during mid-day trading on Friday, hitting $117.89. 358,596 shares of the company's stock traded hands, compared to its average volume of 386,126. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $128.16. The company has a 50 day moving average price of $100.43.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup upped their price objective on ServiceTitan from $109.00 to $113.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Canaccord Genuity Group lifted their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Morgan Stanley increased their target price on shares of ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Piper Sandler reaffirmed an "overweight" rating and issued a $125.00 price target on shares of ServiceTitan in a report on Friday, March 14th. Finally, Loop Capital dropped their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, March 14th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceTitan presently has an average rating of "Moderate Buy" and a consensus price target of $118.23.

ServiceTitan Profile

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.