Adage Capital Partners GP L.L.C. Invests $1.54 Million in ServiceTitan Inc. (NASDAQ:TTAN)

Adage Capital Partners GP L.L.C. bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,000 shares of the company's stock, valued at approximately $1,543,000.

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

ServiceTitan Price Performance

ServiceTitan stock traded down $1.12 during mid-day trading on Monday, reaching $116.77. The company had a trading volume of 46,178 shares, compared to its average volume of 381,974. The company has a fifty day moving average of $100.43. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $128.16.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TTAN. The Goldman Sachs Group initiated coverage on ServiceTitan in a research report on Monday, January 6th. They set a "neutral" rating and a $100.00 price target for the company. Loop Capital decreased their target price on shares of ServiceTitan from $105.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, March 14th. KeyCorp increased their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Piper Sandler restated an "overweight" rating and set a $125.00 price objective on shares of ServiceTitan in a research note on Friday, March 14th. Finally, Truist Financial started coverage on ServiceTitan in a research report on Monday, January 6th. They set a "buy" rating and a $120.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $118.23.

Insider Activity at ServiceTitan

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

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.