New York State Common Retirement Fund Acquires 18,663 Shares of ServiceTitan Inc. (NASDAQ:TTAN)

New York State Common Retirement Fund raised its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 52.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,552 shares of the company's stock after purchasing an additional 18,663 shares during the period. New York State Common Retirement Fund owned 0.07% of ServiceTitan worth $5,188,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Deer Management Co. LLC bought a new stake in shares of ServiceTitan in the fourth quarter worth about $925,943,000. TPG GP A LLC acquired a new position in shares of ServiceTitan during the fourth quarter worth $525,405,000. Price T Rowe Associates Inc. MD acquired a new position in shares of ServiceTitan during the fourth quarter worth $233,937,000. Dragoneer Investment Group LLC purchased a new stake in shares of ServiceTitan during the fourth quarter valued at $210,777,000. Finally, Thoma Bravo L.P. purchased a new stake in ServiceTitan in the fourth quarter valued at $106,892,000.

ServiceTitan Stock Performance

Shares of ServiceTitan stock traded down $0.37 on Friday, hitting $116.94. The company had a trading volume of 423,803 shares, compared to its average volume of 1,111,416. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $111.48 and a 200-day moving average of $105.51.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. The business's revenue was up 26.6% on a year-over-year basis. On average, equities research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TTAN has been the topic of several recent analyst reports. Piper Sandler reissued an "overweight" rating and set a $150.00 target price (up from $125.00) on shares of ServiceTitan in a research note on Tuesday. TD Securities increased their price objective 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 raised 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. Robert W. Baird lifted their price target on shares of ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley lifted their price objective on shares of ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.

Insider Activity

In other news, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $102.00, for a total value of $51,000,000.00. Following the transaction, the insider owned 8,503,571 shares in the company, valued at approximately $867,364,242. The trade was a 5.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J.G. Griffith sold 90,917 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was 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 owned 483,635 shares in the company, 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 1,412,338 shares of company stock valued at $150,374,391 in the last 90 days. 51.72% of the stock is owned by corporate insiders.

About ServiceTitan

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.