Renaissance Capital LLC Buys 28,454 Shares of ServiceTitan Inc. $TTAN

Key Points

• Renaissance Capital LLC increased its stake in ServiceTitan (TTAN) by 222.8%, buying 28,454 shares to hold 41,223 shares worth about $4.39 million, representing roughly 3.2% of its portfolio and its 12th-largest position.
• Insiders sold a combined 33,440 shares (≈$2.28M) in the quarter — including sales by CFO David Sherry and CAO Michele O'Connor — although insiders still own 51.72% of the company.
• Analysts maintain a consensus "Moderate Buy" with an average price target of $112.31, while the stock trades near $62.66; ServiceTitan beat the quarter with $0.27 EPS and $254M revenue but remains unprofitable with a negative net margin and a forecasted -0.62 EPS for the year.

Renaissance Capital LLC lifted its stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 222.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,223 shares of the company's stock after buying an additional 28,454 shares during the period. ServiceTitan makes up approximately 3.2% of Renaissance Capital LLC's investment portfolio, making the stock its 12th biggest position. Renaissance Capital LLC's holdings in ServiceTitan were worth $4,390,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Anchyra Partners LLC bought a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $1,767,000. Pictet Asset Management Holding SA bought a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $376,000. UBS Group AG boosted its stake in shares of ServiceTitan by 6.8% in the fourth quarter. UBS Group AG now owns 114,028 shares of the company's stock valued at $12,144,000 after buying an additional 7,254 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of ServiceTitan by 61.2% in the fourth quarter. Sanctuary Advisors LLC now owns 18,771 shares of the company's stock valued at $1,999,000 after buying an additional 7,126 shares during the period. Finally, Quent Capital LLC bought a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $1,172,000.

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 17,778 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $1,241,971.08. Following the completion of the transaction, the chief financial officer directly owned 313,025 shares in the company, valued at approximately $21,867,926.50. This represents a 5.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michele O'connor sold 5,154 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $360,058.44. Following the completion of the transaction, the chief accounting officer owned 84,416 shares of the company's stock, valued at $5,897,301.76. The trade was a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,440 shares of company stock valued at $2,281,468 over the last quarter. 51.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on ServiceTitan from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, March 13th. TD Cowen upped their target price on ServiceTitan from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. The Goldman Sachs Group cut their target price on ServiceTitan from $117.00 to $84.00 and set a "neutral" rating for the company in a research note on Monday, March 16th. Needham & Company LLC cut their target price on ServiceTitan from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Finally, Canaccord Genuity Group cut their target price on ServiceTitan from $140.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $112.31.

ServiceTitan Stock Performance

Shares of TTAN opened at $62.66 on Monday. ServiceTitan Inc. has a 52 week low of $55.23 and a 52 week high of $131.33. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of -36.43 and a beta of -0.14. The stock has a fifty day moving average of $66.68 and a 200-day moving average of $83.96.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The company had revenue of $253.99 million during the quarter, compared to analysts' expectations of $245.47 million. During the same period in the prior year, the company earned $0.12 EPS. ServiceTitan's revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts forecast that ServiceTitan Inc. will post -0.62 EPS for the current year.

About ServiceTitan

ServiceTitan, Inc NASDAQ: TTAN is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company's platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan's offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.

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