ServiceTitan Inc. (NASDAQ:TTAN) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 52.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,552 shares of the company's stock after buying an additional 18,663 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of ServiceTitan worth $5,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TTAN. Deer Management Co. LLC purchased a new position in ServiceTitan in the 4th quarter valued at approximately $925,943,000. TPG GP A LLC purchased a new position in ServiceTitan in the 4th quarter valued at approximately $525,405,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of ServiceTitan during the 4th quarter worth $233,937,000. Dragoneer Investment Group LLC purchased a new stake in shares of ServiceTitan during the 4th quarter worth $210,777,000. Finally, Thoma Bravo L.P. purchased a new stake in shares of ServiceTitan during the 4th quarter worth $106,892,000.

ServiceTitan Price Performance

NASDAQ:TTAN traded up $0.29 during midday trading on Friday, hitting $117.60. 59,480 shares of the company were exchanged, compared to its average volume of 724,491. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The company has a fifty day simple moving average of $111.72 and a 200 day simple moving average of $105.40.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to analyst estimates of $208.61 million. The business's revenue was up 26.6% compared to the same quarter last year. Research analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 price objective on shares of ServiceTitan in a research report on Friday, June 6th. Piper Sandler reaffirmed an "overweight" rating and set a $150.00 price objective (up from $125.00) on shares of ServiceTitan in a research report on Tuesday. KeyCorp set a $140.00 price objective on shares of ServiceTitan and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Canaccord Genuity Group lifted their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ServiceTitan currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.00.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, Director William J.G. Griffith sold 90,917 shares of ServiceTitan stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total value of $9,999,960.83. Following the transaction, the director directly owned 483,635 shares in the company, valued at approximately $53,195,013.65. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of ServiceTitan stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $102.00, for a total transaction of $51,000,000.00. Following the completion of the transaction, the insider owned 8,503,571 shares in the company, valued at approximately $867,364,242. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,412,338 shares of company stock valued at $150,374,391. Company insiders own 51.72% of the company's stock.

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.