Canada Pension Plan Investment Board Takes $71.16 Million Position in ServiceTitan Inc. (NASDAQ:TTAN)

Canada Pension Plan Investment Board acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 691,696 shares of the company's stock, valued at approximately $71,155,000. Canada Pension Plan Investment Board owned 0.90% of ServiceTitan at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TTAN. SBI Securities Co. Ltd. acquired a new stake in ServiceTitan during the 4th quarter worth approximately $26,000. Assetmark Inc. acquired a new stake in ServiceTitan during the 4th quarter worth approximately $67,000. FIL Ltd purchased a new position in shares of ServiceTitan during the 4th quarter worth approximately $67,000. Avantax Advisory Services Inc. purchased a new position in shares of ServiceTitan during the 4th quarter worth approximately $227,000. Finally, Barclays PLC purchased a new position in shares of ServiceTitan during the 4th quarter worth approximately $267,000.

Insiders Place Their Bets

In other news, CFO David Sherry sold 10,175 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 $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares in the company, valued at $30,799,961.85. This represents a 3.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $520,007.10. Following the sale, the chief accounting officer now 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 disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial assumed coverage on ServiceTitan in a research note on Monday, January 6th. They set a "buy" rating and a $120.00 target price for the company. Piper Sandler reissued an "overweight" rating and set a $125.00 target price on shares of ServiceTitan in a research note on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and set a $125.00 target price on shares of ServiceTitan in a research note on Wednesday, April 9th. William Blair began coverage on ServiceTitan in a report on Monday, January 6th. They set an "outperform" rating for the company. Finally, The Goldman Sachs Group started coverage on ServiceTitan in a research report on Monday, January 6th. They set a "neutral" rating and a $100.00 target price on the stock. Four equities research 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's stock. According to data from MarketBeat.com, ServiceTitan has an average rating of "Moderate Buy" and an average price target of $115.54.

ServiceTitan Stock Up 4.8 %

Shares of ServiceTitan stock traded up $5.80 during trading hours on Thursday, reaching $126.83. 516,509 shares of the company's stock were exchanged, compared to its average volume of 384,048. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $128.16. The company's fifty day moving average is $97.33.

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.