Geode Capital Management LLC Acquires Shares of 63,031 ServiceTitan Inc. (NASDAQ:TTAN)

Geode Capital Management LLC purchased a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 63,031 shares of the company's stock, valued at approximately $6,484,000. Geode Capital Management LLC owned 0.08% of ServiceTitan as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Diametric Capital LP acquired a new stake in ServiceTitan in the 4th quarter valued at $889,000. Franklin Resources Inc. acquired a new stake in shares of ServiceTitan in the 4th quarter valued at $47,148,000. Alliancebernstein L.P. bought a new stake in shares of ServiceTitan in the 4th quarter worth about $15,088,000. Wellington Management Group LLP acquired a new stake in shares of ServiceTitan during the 4th quarter worth about $3,092,000. Finally, Norges Bank acquired a new position in ServiceTitan in the fourth quarter valued at about $7,715,000.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TTAN. Needham & Company LLC lifted their target price on shares of ServiceTitan from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday. Citigroup raised their price target on shares of ServiceTitan from $109.00 to $113.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Piper Sandler reiterated an "overweight" rating and issued a $125.00 price objective on shares of ServiceTitan in a research report on Friday, March 14th. Wells Fargo & Company began coverage on ServiceTitan in a research report on Monday, January 6th. They set an "overweight" rating and a $125.00 target price for the company. Finally, Stifel Nicolaus decreased their price target on ServiceTitan from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.23.

ServiceTitan Stock Performance

Shares of NASDAQ:TTAN traded down $2.02 during mid-day trading on Thursday, reaching $113.59. 46,129 shares of the stock were exchanged, compared to its average volume of 381,604. The business's 50 day moving average price is $99.57. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $128.16.

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.