Harbour Capital Advisors LLC Takes $252,000 Position in ServiceTitan Inc. (NASDAQ:TTAN)

Harbour Capital Advisors LLC acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,800 shares of the company's stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Common Retirement Fund acquired a new position in ServiceTitan in the fourth quarter valued at approximately $3,692,000. SBI Securities Co. Ltd. acquired a new position in ServiceTitan in the fourth quarter valued at approximately $26,000. Victory Capital Management Inc. acquired a new position in ServiceTitan in the fourth quarter valued at approximately $10,450,000. Assetmark Inc. acquired a new position in ServiceTitan in the fourth quarter valued at approximately $67,000. Finally, Battery Management Corp. acquired a new position in ServiceTitan in the fourth quarter valued at approximately $496,599,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group upped their price target on ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and issued a $140.00 price objective on shares of ServiceTitan in a research note on Friday, June 6th. TD Securities boosted their price objective on ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird boosted their price objective on ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. 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. Based on data from MarketBeat, ServiceTitan currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.21.

ServiceTitan Price Performance

Shares of ServiceTitan stock traded up $1.37 during trading hours on Friday, hitting $107.93. 1,824,654 shares of the company were exchanged, compared to its average volume of 1,897,567. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. The firm has a 50-day simple moving average of $115.04.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analysts' expectations of $208.61 million. The business's revenue was up 26.6% compared to the same quarter last year. Equities analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Insider Transactions at ServiceTitan

In other news, CAO Michele O'connor sold 1,732 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $105.22, for a total transaction of $182,241.04. Following the completion of the sale, the chief accounting officer now owns 98,936 shares in the company, valued at $10,410,045.92. This represents a 1.72% 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, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $102.00, for a total value of $51,000,000.00. Following the completion of the transaction, the insider now owns 8,503,571 shares of the company's stock, valued at $867,364,242. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 645,046 shares of company stock worth $66,345,624 over the last 90 days. 51.72% of the stock is currently owned by insiders.

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.