Burkehill Global Management LP Has $9.51 Million Stake in ServiceTitan Inc. (NASDAQ:TTAN)

Key Points

• Burkehill Global Management LP increased its stake in ServiceTitan Inc. by 100%, now owning 100,000 shares valued at approximately $9.51 million as of the last quarter.
• Insiders at ServiceTitan sold a total of 1,461,518 shares recently, amounting to $155.9 million in value over the past three months, indicating significant insider trading activity.
• Wall Street analysts maintain a positive outlook on ServiceTitan, with a consensus rating of "Moderate Buy" and target prices ranging from $124.00 to $150.00.

Burkehill Global Management LP lifted its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 100.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,000 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Burkehill Global Management LP owned 0.13% of ServiceTitan worth $9,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TTAN. Deer Management Co. LLC purchased a new position in shares of ServiceTitan during the fourth quarter worth about $925,943,000. TPG GP A LLC purchased a new position in shares of ServiceTitan during the fourth quarter worth about $525,405,000. Price T Rowe Associates Inc. MD purchased a new position in shares of ServiceTitan during the fourth quarter worth about $233,937,000. Dragoneer Investment Group LLC purchased a new position in shares of ServiceTitan during the fourth quarter worth about $210,777,000. Finally, TimesSquare Capital Management LLC grew its holdings in shares of ServiceTitan by 22.3% during the first quarter. TimesSquare Capital Management LLC now owns 1,044,914 shares of the company's stock worth $99,382,000 after purchasing an additional 190,476 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on TTAN. Canaccord Genuity Group raised their price objective on ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Robert W. Baird increased their target price on shares of ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. 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 report on Wednesday, May 21st. Morgan Stanley increased their target price on shares of ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $150.00 target price (up from $125.00) on shares of ServiceTitan in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $124.00.

ServiceTitan Stock Performance

Shares of NASDAQ:TTAN traded up $0.91 during midday trading on Tuesday, hitting $99.43. 508,758 shares of the company's stock traded hands, compared to its average volume of 716,382. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. 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's fifty day moving average price is $109.41 and its two-hundred day moving average price is $106.59.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $215.69 million during the quarter, compared to analyst estimates of $208.61 million. The company's quarterly revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current year.

Insider Activity

In other news, major shareholder Bessemer Venture Partners Viii sold 8,706 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $110.24, for a total value of $959,749.44. Following the completion of the transaction, the insider directly owned 7,966,334 shares in the company, valued at $878,208,660.16. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $2,753,675.64. The disclosure for this sale can be found here. Insiders have sold 1,461,518 shares of company stock valued at $155,943,554 over the last quarter. Corporate 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.