Thoma Bravo L.P. Acquires New Position in ServiceTitan Inc. (NASDAQ:TTAN)

Thoma Bravo L.P. acquired a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,039,099 shares of the company's stock, valued at approximately $106,892,000. ServiceTitan makes up about 1.9% of Thoma Bravo L.P.'s investment portfolio, making the stock its 6th largest holding. Thoma Bravo L.P. owned about 1.36% of ServiceTitan at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $57,349,000. TimesSquare Capital Management LLC acquired a new stake in ServiceTitan in the 4th quarter worth about $87,896,000. Barclays PLC purchased a new stake in ServiceTitan during the 4th quarter worth approximately $267,000. Battery Management Corp. purchased a new stake in ServiceTitan during the 4th quarter worth approximately $496,599,000. Finally, Seven Grand Managers LLC acquired a new position in shares of ServiceTitan during the fourth quarter valued at approximately $4,115,000.

ServiceTitan Stock Performance

ServiceTitan stock traded down $0.88 during mid-day trading on Friday, hitting $122.17. The company's stock had a trading volume of 158,905 shares, compared to its average volume of 395,894. The business has a fifty day moving average price of $109.51. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33.

Insider Buying and Selling

In related news, CFO David Sherry sold 10,175 shares of the 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 transaction, the chief financial officer now owns 325,409 shares of the company's stock, valued at $30,799,961.85. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Michele O'connor sold 5,494 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the completion of the transaction, the chief accounting officer now owns 89,302 shares in the company, valued at $8,452,434.30. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TTAN has been the subject of several research reports. Needham & Company LLC boosted their price target on ServiceTitan from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. KeyCorp lifted their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. TD Securities increased their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday. Stifel Nicolaus lowered their price target on shares of ServiceTitan from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Loop Capital dropped their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, March 14th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $119.79.

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.