Millennium Management LLC Buys New Stake in ServiceTitan Inc. (NASDAQ:TTAN)

Millennium Management LLC acquired a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 108,014 shares of the company's stock, valued at approximately $11,111,000. Millennium Management LLC owned about 0.14% of ServiceTitan as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TTAN. Deer Management Co. LLC purchased a new position in shares of ServiceTitan in the 4th quarter worth approximately $925,943,000. Battery Management Corp. purchased a new position in shares of ServiceTitan in the 4th quarter worth approximately $496,599,000. Price T Rowe Associates Inc. MD purchased a new position in shares of ServiceTitan in the 4th quarter worth approximately $233,937,000. Dragoneer Investment Group LLC purchased a new position in shares of ServiceTitan in the 4th quarter worth approximately $210,777,000. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of ServiceTitan in the 4th quarter worth approximately $89,529,000.

ServiceTitan Price Performance

Shares of TTAN stock traded down $3.73 during trading hours on Thursday, hitting $111.59. The company's stock had a trading volume of 292,733 shares, compared to its average volume of 401,922. The stock has a 50 day simple moving average of $111.60. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $131.33.

Insider Activity

In related news, CFO David Sherry sold 10,175 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the transaction, the chief financial officer now directly owns 325,409 shares in the company, valued at $30,799,961.85. The trade was a 3.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michele O'connor sold 5,494 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 89,302 shares of the company's stock, valued at approximately $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. Insiders own 51.72% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on TTAN shares. KeyCorp boosted their target price 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. Canaccord Genuity Group boosted their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $125.00 target price on shares of ServiceTitan in a research report on Friday, March 14th. Stifel Nicolaus dropped their target price on shares of ServiceTitan from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Morgan Stanley boosted their target price on shares of ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Four 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.