Massachusetts Financial Services Co. MA Purchases 53,235 Shares of ServiceTitan Inc. (NASDAQ:TTAN)

Massachusetts Financial Services Co. MA boosted its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 533,409 shares of the company's stock after acquiring an additional 53,235 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.70% of ServiceTitan worth $50,733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Deer Management Co. LLC bought a new position in shares of ServiceTitan during the fourth quarter valued at $925,943,000. TPG GP A LLC acquired a new stake in ServiceTitan in the 4th quarter valued at $525,405,000. Price T Rowe Associates Inc. MD purchased a new position in ServiceTitan during the 4th quarter worth $233,937,000. Dragoneer Investment Group LLC purchased a new position in shares of ServiceTitan in the 4th quarter worth about $210,777,000. Finally, Thoma Bravo L.P. purchased a new position in shares of ServiceTitan in the 4th quarter worth about $106,892,000.

Insiders Place Their Bets

In other news, Director William J.G. Griffith sold 90,917 shares of the company's stock in a transaction that occurred 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 approximately $53,195,013.65. This represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the company's 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 sale, the insider owned 8,503,571 shares of the company's stock, valued at $867,364,242. The trade was a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,378,143 shares of company stock worth $146,514,872 over the last quarter. 51.72% of the stock is currently owned by company insiders.

ServiceTitan Trading Up 1.3%

Shares of NASDAQ:TTAN opened at $112.57 on Friday. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $112.53 and a 200 day simple moving average of $105.01.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted 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 the consensus estimate of $208.61 million. ServiceTitan's revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on TTAN. TD Cowen assumed coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and issued a $140.00 target price on shares of ServiceTitan in a report on Friday, June 6th. KeyCorp set a $140.00 target price on ServiceTitan and gave the company an "overweight" rating in a research report on Wednesday. Loop Capital reiterated a "hold" rating and issued a $100.00 target price (up previously from $90.00) on shares of ServiceTitan in a research note on Friday, June 6th. Finally, Robert W. Baird lifted their target price on ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.21.

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.

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