Lord Abbett & CO. LLC Has $14.04 Million Holdings in ServiceTitan Inc. $TTAN

Key Points

• Lord Abbett & CO. LLC increased its stake in ServiceTitan Inc. by 194.3% during the first quarter, owning approximately 0.19% of the company worth $14 million.
• CEO Ara Mahdessian sold 42,666 shares for nearly $4.8 million, resulting in a 100% reduction in his ownership of the stock.
• Equities analysts are mostly positive, with 12 buy ratings and a target price range of up to $140, indicating significant growth potential.

Lord Abbett & CO. LLC increased its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 194.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,578 shares of the company's stock after purchasing an additional 97,426 shares during the period. Lord Abbett & CO. LLC owned 0.19% of ServiceTitan worth $14,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Deer Management Co. LLC purchased a new stake in shares of ServiceTitan in the fourth quarter valued at about $925,943,000. TPG GP A LLC purchased a new position in ServiceTitan during the fourth quarter worth about $525,405,000. Price T Rowe Associates Inc. MD purchased a new position in ServiceTitan during the fourth quarter worth about $233,937,000. Dragoneer Investment Group LLC acquired a new position in ServiceTitan during the fourth quarter worth about $210,777,000. Finally, Thoma Bravo L.P. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $106,892,000.

ServiceTitan Price Performance

NASDAQ:TTAN traded down $3.26 during mid-day trading on Tuesday, hitting $103.98. The stock had a trading volume of 650,311 shares, compared to its average volume of 724,368. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33. The company has a 50 day simple moving average of $108.91 and a 200-day simple moving average of $106.71. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.18 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 the consensus estimate of $208.61 million. The business's revenue for the quarter was up 26.6% on a year-over-year basis. ServiceTitan has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In other ServiceTitan news, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of ServiceTitan 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 completion of the sale, the insider directly owned 8,503,571 shares in the company, valued at $867,364,242. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Iconiq Strategic Partners V, L sold 52,082 shares of ServiceTitan stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total transaction of $5,728,499.18. Following the completion of the sale, the insider owned 648,606 shares of the company's stock, valued at $71,340,173.94. This trade represents a 7.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,461,518 shares of company stock valued at $155,943,554. Company insiders own 51.72% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TTAN. Morgan Stanley increased their price target on shares of ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. TD Securities raised their target price 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. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 price target on shares of ServiceTitan in a research note on Friday, June 6th. KeyCorp set a $140.00 price target on shares of ServiceTitan and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Piper Sandler reissued an "overweight" rating and issued a $150.00 target price (up previously from $125.00) on shares of ServiceTitan in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $126.86.

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.