Point72 Asset Management L.P. Takes $5.37 Million Position in ServiceTitan Inc. (NASDAQ:TTAN)

Point72 Asset Management L.P. purchased a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 52,209 shares of the company's stock, valued at approximately $5,371,000. Point72 Asset Management L.P. owned approximately 0.07% of ServiceTitan at the end of the most recent quarter.

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

Analysts Set New Price Targets

TTAN has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of ServiceTitan from $104.00 to $107.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. TD Cowen initiated coverage on shares of ServiceTitan in a research note on Tuesday, April 8th. They issued a "buy" rating and a $120.00 target price on the stock. Piper Sandler reiterated an "overweight" rating and issued a $125.00 target price on shares of ServiceTitan in a research note on Friday, March 14th. Needham & Company LLC raised their target price on shares of ServiceTitan from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Canaccord Genuity Group raised their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceTitan has a consensus rating of "Moderate Buy" and an average target price of $118.23.

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 10,175 shares of the firm'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 transaction, the chief financial officer now directly owns 325,409 shares of the company's stock, valued at approximately $30,799,961.85. This trade represents a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michele O'connor sold 5,494 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $520,007.10. Following the transaction, 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 insiders.

ServiceTitan Trading Up 0.1%

NASDAQ TTAN opened at $129.37 on Tuesday. The stock has a fifty day moving average of $107.51. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $131.33.

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.

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