Alliancebernstein L.P. Buys 209,822 Shares of ServiceTitan Inc. $TTAN

Alliancebernstein L.P. increased its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 143.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 356,490 shares of the company's stock after buying an additional 209,822 shares during the period. Alliancebernstein L.P. owned 0.46% of ServiceTitan worth $33,906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in ServiceTitan in the fourth quarter valued at about $529,000. Bank of America Corp DE purchased a new stake in shares of ServiceTitan in the 4th quarter valued at $540,000. Nuveen Asset Management LLC purchased a new stake in ServiceTitan during the 4th quarter valued at $7,793,000. D. E. Shaw & Co. Inc. bought a new position in shares of ServiceTitan in the 4th quarter worth about $1,543,000. Finally, Barclays PLC bought a new stake in ServiceTitan during the 4th quarter valued at about $267,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TTAN. Loop Capital upgraded shares of ServiceTitan from a "hold" rating to a "buy" rating and boosted their target price for the company from $100.00 to $140.00 in a research report on Monday, August 18th. Citigroup boosted their price objective on shares of ServiceTitan from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Tuesday. Robert W. Baird upped their price objective on shares of ServiceTitan from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Truist Financial increased their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Stifel Nicolaus increased their price target on shares of ServiceTitan from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $130.67.

Insider Activity at ServiceTitan

In related news, President Vahe Kuzoyan sold 24,582 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $112.02, for a total value of $2,753,675.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ara Mahdessian sold 45,185 shares of the business's stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 1,758,040 shares of company stock valued at $197,898,955 over the last three months. Insiders own 51.72% of the company's stock.

ServiceTitan Price Performance

TTAN stock traded down $5.16 on Wednesday, reaching $114.46. 1,158,021 shares of the company's stock were exchanged, compared to its average volume of 1,111,947. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The firm has a market cap of $10.38 billion and a PE ratio of -21.20. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. The stock has a fifty day moving average of $109.52 and a 200-day moving average of $107.36.

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.