Millennium Management LLC Invests $11.11 Million in ServiceTitan Inc. (NASDAQ:TTAN)

Millennium Management LLC acquired a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 108,014 shares of the company's stock, valued at approximately $11,111,000. Millennium Management LLC owned 0.14% of ServiceTitan at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. LMR Partners LLP bought a new position in ServiceTitan in the fourth quarter valued at $2,520,000. Janus Henderson Group PLC acquired a new stake in ServiceTitan in the 4th quarter worth about $2,816,000. Greycroft LP acquired a new stake in ServiceTitan in the 4th quarter worth about $360,000. D. E. Shaw & Co. Inc. acquired a new stake in ServiceTitan in the 4th quarter worth about $1,543,000. Finally, Dragoneer Investment Group LLC bought a new position in ServiceTitan in the 4th quarter valued at about $210,777,000.

Insider Buying and Selling

In other news, CFO David Sherry sold 10,175 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $963,063.75. Following the completion of the sale, the chief financial officer now owns 325,409 shares of the company's stock, valued at $30,799,961.85. This represents a 3.03% decrease in their position. 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 stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the sale, the chief accounting officer now directly owns 89,302 shares of the company's stock, valued at approximately $8,452,434.30. This trade 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 currently owned by company insiders.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN traded up $0.78 during midday trading on Tuesday, reaching $123.39. The company's stock had a trading volume of 379,203 shares, compared to its average volume of 398,149. The business has a 50 day moving average of $110.60. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $131.33.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Loop Capital decreased their price target on shares of ServiceTitan from $105.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group raised their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Cowen reiterated a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. TD Securities lifted their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley boosted their price objective on shares of ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.