40,200 Shares in ServiceTitan Inc. $TTAN Acquired by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments bought a new stake of 40,200 shares of ServiceTitan (TTAN) in Q4, valued at about $4.28 million.
• ServiceTitan beat the quarter's estimates with EPS $0.27 (vs. $0.18) and revenue of $253.99M (up 21.4% YoY), but the company still shows a negative net margin and analysts expect a fiscal-year EPS of about -1.98.
• Large institutions (Vanguard, JPMorgan, Invesco) have substantially increased positions, and Wall Street remains generally positive with a "Moderate Buy" consensus and an average price target of $113.56 while the stock trades near $60.65.

Zevenbergen Capital Investments LLC purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 40,200 shares of the company's stock, valued at approximately $4,281,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TTAN. Vanguard Group Inc. increased its position in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company's stock worth $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company's stock valued at $291,798,000 after purchasing an additional 1,569,136 shares in the last quarter. Invesco Ltd. raised its position in ServiceTitan by 1,388.2% in the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company's stock valued at $158,344,000 after purchasing an additional 1,378,100 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of ServiceTitan by 116.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company's stock worth $110,745,000 after purchasing an additional 591,213 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of ServiceTitan by 0.7% in the third quarter. Capital International Investors now owns 988,412 shares of the company's stock worth $99,662,000 after buying an additional 7,237 shares during the period.

ServiceTitan Stock Up 0.4%

Shares of NASDAQ TTAN opened at $60.65 on Tuesday. The stock has a market cap of $5.68 billion, a P/E ratio of -35.26 and a beta of -0.71. The firm's 50-day simple moving average is $71.98 and its 200 day simple moving average is $90.00. ServiceTitan Inc. has a fifty-two week low of $58.01 and a fifty-two week high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The firm had revenue of $253.99 million for the quarter, compared to analysts' expectations of $245.47 million. During the same quarter last year, the company earned $0.12 EPS. ServiceTitan's quarterly revenue was up 21.4% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In related news, CEO Ara Mahdessian sold 32,000 shares of the business's stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total transaction of $3,152,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David Sherry sold 17,778 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $1,241,971.08. Following the completion of the sale, the chief financial officer owned 313,025 shares of the company's stock, valued at $21,867,926.50. This trade represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 77,806 shares of company stock worth $6,876,630 over the last ninety days. Insiders own 51.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TTAN. William Blair reissued an "outperform" rating on shares of ServiceTitan in a report on Friday, March 13th. Morgan Stanley lowered their price target on ServiceTitan from $131.00 to $118.00 and set an "overweight" rating for the company in a report on Friday, March 13th. Wells Fargo & Company dropped their price target on ServiceTitan from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, March 13th. Needham & Company LLC decreased their price objective on shares of ServiceTitan from $140.00 to $100.00 and set a "buy" rating for the company in a report on Friday, March 13th. Finally, UBS Group reiterated a "buy" rating on shares of ServiceTitan in a research note on Monday, December 1st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceTitan has an average rating of "Moderate Buy" and an average price target of $113.56.

ServiceTitan Company Profile

ServiceTitan, Inc NASDAQ: TTAN is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company's platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan's offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.

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