Alyeska Investment Group L.P. Buys New Shares in ServiceTitan Inc. (NASDAQ:TTAN)

Alyeska Investment Group L.P. bought a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 50,000 shares of the company's stock, valued at approximately $5,144,000. Alyeska Investment Group L.P. owned about 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 TTAN. Deer Management Co. LLC purchased a new position in shares of ServiceTitan in the fourth quarter worth about $925,943,000. Battery Management Corp. acquired a new stake in shares of ServiceTitan during the 4th quarter worth approximately $496,599,000. Price T Rowe Associates Inc. MD acquired a new stake in ServiceTitan during the fourth quarter valued at $233,937,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of ServiceTitan in the 4th quarter valued at about $89,529,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $87,896,000.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $117.76 on Tuesday. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $128.16. The business's 50-day simple moving average is $100.92.

Insiders Place Their Bets

In other news, 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 value of $520,007.10. Following the completion of the sale, the chief accounting officer now directly owns 89,302 shares of the company's stock, valued at approximately $8,452,434.30. The trade was a 5.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Sherry sold 10,175 shares of the stock in a transaction dated Thursday, March 20th. The stock was 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 in the company, valued at approximately $30,799,961.85. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of analysts have recently commented on TTAN shares. Loop Capital cut 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. Canaccord Genuity Group increased their price objective on ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Citigroup upped their target price on shares of ServiceTitan from $109.00 to $113.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. The Goldman Sachs Group initiated coverage on shares of ServiceTitan in a research note on Monday, January 6th. They issued a "neutral" rating and a $100.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on shares of ServiceTitan in a research note on Monday, January 6th. They set an "overweight" rating and a $125.00 price objective for the company. Four investment 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $118.23.

ServiceTitan Company 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.

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