Alyeska Investment Group L.P. Purchases 10,000 Shares of ServiceTitan Inc. $TTAN

Key Points

• Alyeska Investment Group L.P. has increased its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 20%, now owning 60,000 shares valued at approximately $5.7 million.
• Equities research analysts have raised their price targets for ServiceTitan, with recommendations of $135 to $140 and a consensus rating of "Moderate Buy."
• ServiceTitan reported a revenue of $215.69 million for the most recent quarter, exceeding analysts' expectations and marking a 26.6% year-over-year increase.

Alyeska Investment Group L.P. lifted its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 20.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,000 shares of the company's stock after purchasing an additional 10,000 shares during the quarter. Alyeska Investment Group L.P. owned 0.08% of ServiceTitan worth $5,707,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. TPG GP A LLC acquired a new position in shares of ServiceTitan during the fourth quarter worth approximately $525,405,000. Price T Rowe Associates Inc. MD raised its position in ServiceTitan by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company's stock valued at $219,341,000 after buying an additional 32,066 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in ServiceTitan by 1,545.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after buying an additional 1,930,779 shares during the last quarter. TimesSquare Capital Management LLC raised its position in ServiceTitan by 22.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,044,914 shares of the company's stock valued at $99,382,000 after buying an additional 190,476 shares during the last quarter. Finally, Thoma Bravo L.P. purchased a new stake in ServiceTitan in the 4th quarter valued at $106,892,000.

ServiceTitan Stock Performance

NASDAQ:TTAN traded up $2.14 during trading on Thursday, reaching $116.60. The company's stock had a trading volume of 354,226 shares, compared to its average volume of 774,255. The firm has a market cap of $10.57 billion and a price-to-earnings ratio of -21.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. The firm has a 50 day moving average of $109.52 and a 200-day moving average of $107.36. ServiceTitan Inc. has a 12 month low of $79.81 and a 12 month high of $131.33.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TTAN. Cowen reissued a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. Loop Capital raised ServiceTitan from a "hold" rating to a "buy" rating and increased their price target for the company from $100.00 to $140.00 in a research report on Monday, August 18th. Citigroup increased their price target on ServiceTitan from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Tuesday. BMO Capital Markets began coverage on ServiceTitan in a research report on Thursday, August 28th. They issued an "outperform" rating and a $129.00 price target for the company. Finally, Wells Fargo & Company increased their price target on ServiceTitan from $125.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. One investment 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $130.67.

Insiders Place Their Bets

In other news, major shareholder Iconiq Strategic Partners V, L sold 52,082 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total transaction of $5,728,499.18. Following the completion of the transaction, the insider owned 648,606 shares in the company, valued at approximately $71,340,173.94. This represents a 7.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J.G. Griffith sold 90,917 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total value of $9,999,960.83. Following the transaction, the director owned 483,635 shares of the company's stock, valued at $53,195,013.65. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,758,040 shares of company stock worth $197,898,955 over the last 90 days. Company insiders own 51.72% of the company's stock.

ServiceTitan 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.