Miracle Mile Advisors LLC Makes New Investment in ServiceTitan Inc. (NASDAQ:TTAN)

Miracle Mile Advisors LLC acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,405 shares of the company's stock, valued at approximately $1,180,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TTAN. SBI Securities Co. Ltd. acquired a new stake in ServiceTitan during the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC acquired a new stake in ServiceTitan during the 1st quarter worth $31,000. Assetmark Inc. purchased a new stake in ServiceTitan in the fourth quarter valued at $67,000. FIL Ltd purchased a new position in shares of ServiceTitan during the fourth quarter worth about $67,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of ServiceTitan during the fourth quarter worth about $91,000.

ServiceTitan Stock Down 1.3%

Shares of NASDAQ TTAN traded down $1.39 during midday trading on Thursday, hitting $102.07. The company had a trading volume of 1,021,426 shares, compared to its average volume of 589,685. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. The firm has a 50-day simple moving average of $114.63.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share 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 analyst estimates of $208.61 million. The business's quarterly revenue was up 26.6% on a year-over-year basis. Equities research analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Insider Activity at ServiceTitan

In related news, CFO David Sherry sold 10,175 shares of the company's 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 $963,063.75. Following the transaction, the chief financial officer now owns 325,409 shares of the company's stock, valued at approximately $30,799,961.85. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michele O'connor sold 5,494 shares of ServiceTitan stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $520,007.10. Following the completion of the sale, the chief accounting officer now directly owns 89,302 shares of the company's stock, valued at $8,452,434.30. The trade was 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TTAN shares. Cowen reissued a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. TD Securities raised their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus upped their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Loop Capital reissued a "hold" rating and set a $100.00 price objective (up from $90.00) on shares of ServiceTitan in a research report on Friday, June 6th. Finally, TD Cowen began coverage on shares of ServiceTitan in a report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $122.21.

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.