D. E. Shaw & Co. Inc. Makes New Investment in ServiceTitan Inc. (NASDAQ:TTAN)

D. E. Shaw & Co. Inc. acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,000 shares of the company's stock, valued at approximately $1,543,000.

Several other hedge funds have also recently made changes to their positions in the company. Deer Management Co. LLC acquired a new stake in ServiceTitan during the 4th quarter worth about $925,943,000. Battery Management Corp. purchased a new stake in ServiceTitan in the 4th quarter worth approximately $496,599,000. Price T Rowe Associates Inc. MD acquired a new position in shares of ServiceTitan in the 4th quarter valued at $233,937,000. Dragoneer Investment Group LLC purchased a new stake in ServiceTitan during the fourth quarter worth $210,777,000. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in ServiceTitan during the fourth quarter worth $89,529,000.

Insider Buying and Selling at ServiceTitan

In other news, CFO David Sherry sold 10,175 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $963,063.75. Following the sale, the chief financial officer now owns 325,409 shares in the company, valued at $30,799,961.85. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michele O'connor sold 5,494 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the sale, the chief accounting officer now owns 89,302 shares of the company's stock, valued at $8,452,434.30. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.72% of the stock is owned by insiders.

ServiceTitan Stock Performance

TTAN traded down $6.40 during trading on Wednesday, reaching $116.99. 106,187 shares of the stock were exchanged, compared to its average volume of 395,026. The stock's 50 day moving average price is $111.18. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. KeyCorp upped their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. Piper Sandler restated an "overweight" rating and set a $125.00 price target on shares of ServiceTitan in a research note on Friday, March 14th. Morgan Stanley increased their target price on ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, Loop Capital dropped their target price on ServiceTitan from $105.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $119.79.

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.