Durable Capital Partners LP Acquires Shares of 741,403 ServiceTitan Inc. (NASDAQ:TTAN)

Durable Capital Partners LP bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 741,403 shares of the company's stock, valued at approximately $76,268,000. Durable Capital Partners LP owned approximately 0.97% of ServiceTitan as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TTAN. SBI Securities Co. Ltd. acquired a new stake in ServiceTitan during the fourth quarter worth about $26,000. Assetmark Inc. purchased a new stake in shares of ServiceTitan during the 4th quarter valued at approximately $67,000. FIL Ltd acquired a new position in ServiceTitan in the fourth quarter valued at approximately $67,000. Tower Research Capital LLC TRC purchased a new position in ServiceTitan in the fourth quarter worth approximately $91,000. Finally, Insight Holdings Group LLC acquired a new stake in ServiceTitan during the fourth quarter worth $103,000.

ServiceTitan Stock Performance

Shares of ServiceTitan stock traded up $8.21 on Friday, reaching $124.22. 1,010,837 shares of the company were exchanged, compared to its average volume of 394,312. The stock's 50 day moving average is $102.92. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $128.16.

Insiders Place Their Bets

In other ServiceTitan news, CFO David Sherry sold 10,175 shares of the firm'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 $963,063.75. Following 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 ownership of the stock. 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 ServiceTitan stock in a transaction dated 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 directly 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.

Analyst Ratings Changes

TTAN has been the subject of a number of research analyst reports. TD Cowen initiated coverage on ServiceTitan in a report on Tuesday, April 8th. They set a "buy" rating and a $120.00 price target for the company. Stifel Nicolaus reduced their price target on shares of ServiceTitan from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Citigroup increased their price objective on shares of ServiceTitan from $109.00 to $113.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. KeyCorp boosted their target price on ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Canaccord Genuity Group raised their price target on ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceTitan presently has an average rating of "Moderate Buy" and an average target price 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.