Ararat Capital Management LP Purchases Shares of 25,000 ServiceTitan Inc. (NASDAQ:TTAN)

Ararat Capital Management LP purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company's stock, valued at approximately $2,572,000. ServiceTitan accounts for 1.0% of Ararat Capital Management LP's portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of ServiceTitan during the fourth quarter worth approximately $26,000. Assetmark Inc. acquired a new position in ServiceTitan in the 4th quarter valued at $67,000. FIL Ltd bought a new stake in shares of ServiceTitan in the fourth quarter valued at about $67,000. Tower Research Capital LLC TRC acquired a new stake in ServiceTitan in the 4th quarter worth about $91,000. Finally, Insight Holdings Group LLC acquired a new position in ServiceTitan in the 4th quarter valued at $103,000.

Analyst Ratings Changes

A number of research analysts have recently commented on TTAN shares. TD Cowen initiated coverage on ServiceTitan in a research note on Tuesday, April 8th. They issued a "buy" rating and a $120.00 price target for the company. Wells Fargo & Company assumed coverage on ServiceTitan in a report on Monday, January 6th. They set an "overweight" rating and a $125.00 price target on the stock. Truist Financial initiated coverage on shares of ServiceTitan in a report on Monday, January 6th. They set a "buy" rating and a $120.00 target price on the stock. William Blair initiated coverage on shares of ServiceTitan in a research note on Monday, January 6th. They set an "outperform" rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of ServiceTitan in a research note on Monday, January 6th. They issued a "neutral" rating and a $100.00 price objective on the stock. Four equities research 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $118.23.

ServiceTitan Trading Down 4.0 %

Shares of ServiceTitan stock traded down $4.76 on Tuesday, reaching $113.00. The stock had a trading volume of 329,548 shares, compared to its average volume of 383,423. The stock's 50 day moving average price is $100.92. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $128.16.

Insider Activity at ServiceTitan

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 value of $963,063.75. Following the completion of the transaction, the chief financial officer now owns 325,409 shares of the company's stock, valued at $30,799,961.85. The trade was a 3.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michele O'connor sold 5,494 shares of the company's 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 completion of the transaction, the chief accounting officer now owns 89,302 shares of the company's stock, valued at $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.

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.