Deer Management Co. LLC Acquires New Holdings in ServiceTitan Inc. (NASDAQ:TTAN)

Deer Management Co. LLC acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,001,101 shares of the company's stock, valued at approximately $925,943,000. ServiceTitan makes up 72.3% of Deer Management Co. LLC's investment portfolio, making the stock its biggest holding. Deer Management Co. LLC owned 11.76% of ServiceTitan at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TTAN. Battery Management Corp. bought a new position in shares of ServiceTitan in the fourth quarter worth approximately $496,599,000. Price T Rowe Associates Inc. MD purchased a new stake in ServiceTitan in the 4th quarter worth $233,937,000. T. Rowe Price Investment Management Inc. bought a new stake in ServiceTitan during the fourth quarter valued at about $89,529,000. TimesSquare Capital Management LLC purchased a new position in ServiceTitan in the 4th quarter worth approximately $87,896,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of ServiceTitan during the fourth quarter worth $71,155,000.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN traded down $3.75 during trading hours on Tuesday, hitting $114.01. 177,532 shares of the company's stock traded hands, compared to its average volume of 381,543. The firm has a fifty day simple moving average of $100.92. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $128.16.

Insider Buying and Selling

In related news, CFO David Sherry sold 10,175 shares of ServiceTitan 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 owns 325,409 shares in the company, valued at $30,799,961.85. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Michele O'connor sold 5,494 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 89,302 shares in the company, valued at approximately $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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler reiterated an "overweight" rating and issued a $125.00 target price on shares of ServiceTitan in a research report on Friday, March 14th. Wells Fargo & Company began coverage on ServiceTitan in a report on Monday, January 6th. They set an "overweight" rating and a $125.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued a "neutral" rating and a $100.00 target price for the company. Canaccord Genuity Group upped their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Truist Financial assumed coverage on shares of ServiceTitan in a research note on Monday, January 6th. They issued a "buy" rating and a $120.00 price objective for the company. Four 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 company's stock. According to data from MarketBeat, ServiceTitan has a consensus rating of "Moderate Buy" and an average 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.