15,000 Shares in ServiceTitan Inc. (NASDAQ:TTAN) Purchased by Blackstone Inc.

Blackstone Inc. acquired a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,000 shares of the company's stock, valued at approximately $1,543,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TTAN. Cadian Capital Management LP purchased a new position in shares of ServiceTitan in the 4th quarter worth about $12,859,000. Balyasny Asset Management L.P. purchased a new position in ServiceTitan in the fourth quarter worth about $27,516,000. Bamco Inc. NY purchased a new position in ServiceTitan in the fourth quarter worth about $70,386,000. Bank of America Corp DE bought a new position in shares of ServiceTitan in the fourth quarter worth approximately $540,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $5,144,000.

Insider Activity

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

ServiceTitan Stock Performance

NASDAQ TTAN traded up $8.21 on Friday, hitting $124.22. 1,010,837 shares of the company traded hands, compared to its average volume of 394,312. The business has a 50 day simple moving average of $102.92. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $128.16.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TTAN. Stifel Nicolaus lowered their price objective on ServiceTitan from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Canaccord Genuity Group lifted their price objective on ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Morgan Stanley lifted their price objective on ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Citigroup upped their target price on shares of ServiceTitan from $109.00 to $113.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $125.00 price target on shares of ServiceTitan in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ServiceTitan has an average rating of "Moderate Buy" and a consensus price target of $118.23.

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.