4,246 Shares in ServiceTitan Inc. $TTAN Bought by 25 LLC

Key Points

• 25 LLC has acquired 4,246 shares of ServiceTitan Inc. for approximately $455,000, marking a new position for the institutional investor.
• Insider transactions revealed that CEO Ara Mahdessian sold 45,185 shares, generating $4.69 million, while major shareholder Iconiq Strategic Partners sold 52,082 shares worth $5.73 million.
• Several analysts have recently raised their price targets for ServiceTitan, with Canaccord Genuity increasing it to $140 and Morgan Stanley to $118, suggesting a positive outlook for the stock.

25 LLC acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,246 shares of the company's stock, valued at approximately $455,000.

Several other institutional investors and hedge funds have also modified their holdings of TTAN. Bank of America Corp DE bought a new stake in shares of ServiceTitan during the 4th quarter worth $540,000. Wellington Management Group LLP bought a new stake in shares of ServiceTitan during the 4th quarter worth $3,092,000. Harbor Investment Advisory LLC bought a new stake in shares of ServiceTitan during the 1st quarter worth $31,000. Renaissance Capital LLC acquired a new position in ServiceTitan in the 1st quarter worth about $1,921,000. Finally, Miracle Mile Advisors LLC bought a new position in ServiceTitan in the first quarter valued at about $1,180,000.

Insider Transactions at ServiceTitan

In other news, CEO Ara Mahdessian sold 45,185 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $103.71, for a total value of $4,686,136.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners V, L sold 52,082 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total value of $5,728,499.18. Following the completion of the transaction, the insider owned 648,606 shares in the company, valued at $71,340,173.94. This represents a 7.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,433,284 shares of company stock worth $164,469,468 in the last three months. Insiders own 51.72% of the company's stock.

ServiceTitan Stock Up 2.0%

Shares of NASDAQ:TTAN opened at $103.75 on Friday. The business's 50 day simple moving average is $108.72 and its two-hundred day simple moving average is $109.42. The firm has a market cap of $9.64 billion and a P/E ratio of -19.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.49 and a current ratio of 4.49. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $131.33.

Analysts Set New Price Targets

TTAN has been the subject of several research reports. Morgan Stanley increased their target price on ServiceTitan from $109.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. Canaccord Genuity Group increased their target price on ServiceTitan from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Friday, September 19th. KeyCorp set a $140.00 price target on ServiceTitan and gave the company an "overweight" rating in a research note on Wednesday, July 16th. BMO Capital Markets began coverage on ServiceTitan in a research note on Thursday, August 28th. They issued an "outperform" rating and a $129.00 price target for the company. Finally, Stifel Nicolaus raised their target price on ServiceTitan from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $132.67.

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.

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