Capital Research Global Investors Acquires New Position in ServiceTitan Inc. (NASDAQ:TTAN)

Capital Research Global Investors acquired a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 350,000 shares of the company's stock, valued at approximately $36,004,000. Capital Research Global Investors owned 0.46% of ServiceTitan at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Battery Management Corp. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $496,599,000. TimesSquare Capital Management LLC acquired a new stake in shares of ServiceTitan during the fourth quarter worth $87,896,000. Canada Pension Plan Investment Board acquired a new stake in shares of ServiceTitan during the fourth quarter worth $71,155,000. Vanguard Group Inc. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $57,349,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of ServiceTitan during the fourth quarter worth $49,396,000.

ServiceTitan Price Performance

Shares of NASDAQ TTAN traded down $0.62 on Friday, hitting $125.37. The company's stock had a trading volume of 213,412 shares, compared to its average volume of 385,480. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $128.16. The company has a 50 day simple moving average of $98.34.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TD Cowen assumed coverage on ServiceTitan in a report on Tuesday, April 8th. They set a "buy" rating and a $120.00 price target for the company. Wells Fargo & Company started coverage on ServiceTitan in a report on Monday, January 6th. They issued an "overweight" rating and a $125.00 target price for the company. Loop Capital lowered their price target on shares of ServiceTitan from $105.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, March 14th. The Goldman Sachs Group started coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued a "neutral" rating and a $100.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $125.00 price objective on shares of ServiceTitan in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, ten have assigned 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 a consensus target price of $117.08.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CAO Michele O'connor sold 5,494 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were 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 $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Sherry sold 10,175 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were 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 trade represents a 3.03 % decrease in their position. 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.