Northside Capital Management LLC Acquires Shares of 2,649 ServiceTitan Inc. $TTAN

Key Points

• Northside Capital Management LLC has acquired 2,649 shares of ServiceTitan Inc. for an estimated value of $284,000, signifying increased institutional interest in the company.
• Major shareholder Bessemer Venture Partners sold 370,557 shares at an average price of $117.79, reducing their stake by 4.65%.
• Wall Street analysts have optimistic views on ServiceTitan, with multiple firms increasing their price targets and a consensus average target price of $132.67.

Northside Capital Management LLC acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,649 shares of the company's stock, valued at approximately $284,000.

A number of other institutional investors also recently added to or reduced their stakes in TTAN. Harbor Investment Advisory LLC acquired a new stake in ServiceTitan during the first quarter valued at approximately $31,000. LRI Investments LLC acquired a new stake in ServiceTitan during the first quarter valued at approximately $58,000. Assetmark Inc. boosted its holdings in ServiceTitan by 47.2% during the first quarter. Assetmark Inc. now owns 960 shares of the company's stock valued at $91,000 after purchasing an additional 308 shares in the last quarter. Woodline Partners LP boosted its holdings in ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company's stock valued at $204,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in ServiceTitan during the first quarter valued at approximately $252,000.

Insider Activity

In other news, major shareholder Bessemer Venture Partners Viii sold 370,557 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $117.79, for a total value of $43,647,909.03. Following the completion of the transaction, the insider owned 7,595,777 shares of the company's stock, valued at $894,706,572.83. The trade was a 4.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J.G. Griffith sold 90,917 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total transaction of $9,999,960.83. Following the completion of the transaction, the director directly owned 483,635 shares of the company's stock, valued at $53,195,013.65. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,885,140 shares of company stock valued at $213,037,564 in the last quarter. Company insiders own 51.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their target price on shares of ServiceTitan from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Canaccord Genuity Group lifted their target price on shares of ServiceTitan from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Friday. Morgan Stanley lifted their target price on shares of ServiceTitan from $109.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Raymond James Financial assumed coverage on shares of ServiceTitan in a research note on Friday, August 29th. They issued a "market perform" rating for the company. Finally, Loop Capital upgraded shares of ServiceTitan from a "hold" rating to a "buy" rating and lifted their target price for the company from $100.00 to $140.00 in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.67.

ServiceTitan Stock Performance

Shares of ServiceTitan stock opened at $107.95 on Wednesday. The firm has a fifty day moving average of $110.36 and a two-hundred day moving average of $108.84. The stock has a market capitalization of $10.03 billion and a price-to-earnings ratio of -19.99. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.49 and a current ratio of 4.49.

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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