Generation Investment Management LLP Lowers Stake in ServiceTitan Inc. $TTAN

Key Points

• Generation Investment Management LLP has adjusted its stake in ServiceTitan Inc. to 2,023,502 shares, which constitutes approximately 2.62% of the company's total stock, valued at about $192.46 million.
• Several institutional investors, including Jane Street Group LLC and Bank of America Corp DE, have recently acquired new stakes in ServiceTitan, indicating growing interest in the company.
• Analysts have a consensus rating of "Moderate Buy" for ServiceTitan, with price targets ranging from $125.00 to $150.00, reflecting positive sentiments about the company's future performance.

Generation Investment Management LLP decreased its position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,023,502 shares of the company's stock after selling 13,463 shares during the quarter. ServiceTitan makes up 1.2% of Generation Investment Management LLP's portfolio, making the stock its 26th biggest position. Generation Investment Management LLP owned approximately 2.62% of ServiceTitan worth $192,455,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new position in ServiceTitan in the first quarter worth $31,000. LRI Investments LLC bought a new position in ServiceTitan in the first quarter worth $58,000. Tower Research Capital LLC TRC bought a new position in ServiceTitan in the fourth quarter worth $91,000. Assetmark Inc. raised its holdings in ServiceTitan by 47.2% in the first quarter. Assetmark Inc. now owns 960 shares of the company's stock worth $91,000 after purchasing an additional 308 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in ServiceTitan in the fourth quarter worth $210,000.

ServiceTitan Stock Up 13.6%

Shares of TTAN traded up $13.68 on Friday, reaching $113.99. The company's stock had a trading volume of 3,613,501 shares, compared to its average volume of 790,743. The stock's 50 day simple moving average is $108.84 and its two-hundred day simple moving average is $106.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million for the quarter, compared to analysts' expectations of $208.61 million. ServiceTitan had a negative net margin of 26.08% and a negative return on equity of 20.73%. The business's quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 1,499 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $116.89, for a total value of $175,218.11. Following the completion of the sale, the chief financial officer owned 365,670 shares in the company, valued at $42,743,166.30. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ara Mahdessian sold 45,185 shares of ServiceTitan stock in a transaction dated Thursday, August 21st. The shares were 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 have sold a total of 1,546,850 shares of company stock valued at $164,753,189 in the last ninety days. 51.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TTAN shares. Truist Financial lifted their price target on ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 target price on shares of ServiceTitan in a report on Friday. TD Securities upped their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Loop Capital raised shares of ServiceTitan from a "hold" rating to a "buy" rating and raised their price target for the company from $100.00 to $140.00 in a research report on Monday, August 18th. Finally, Piper Sandler upped their price objective on ServiceTitan from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $130.00.

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.