ServiceTitan Inc. $TTAN Shares Bought by Comerica Bank

Key Points

• Comerica Bank significantly increased its position in ServiceTitan Inc. by 92,500% in the first quarter, now holding 2,778 shares valued at approximately $264,000.
• Several institutional investors, including Kayne Anderson Rudnick Investment Management, have raised their stakes in ServiceTitan, with Kayne increasing its investment by 1,545.2%.
• Analysts have recently raised their price targets for ServiceTitan, with Wells Fargo and Stifel Nicolaus setting targets of $130 and $135 respectively, reflecting a consensus rating of "Moderate Buy".

Comerica Bank lifted its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 92,500.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,778 shares of the company's stock after buying an additional 2,775 shares during the quarter. Comerica Bank's holdings in ServiceTitan were worth $264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TTAN. Kayne Anderson Rudnick Investment Management LLC raised its stake in ServiceTitan by 1,545.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after purchasing an additional 1,930,779 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in ServiceTitan by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company's stock valued at $219,341,000 after purchasing an additional 32,066 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in ServiceTitan by 4.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 909,131 shares of the company's stock valued at $86,468,000 after purchasing an additional 38,827 shares during the last quarter. Roubaix Capital LLC acquired a new position in ServiceTitan in the 1st quarter valued at about $4,026,000. Finally, Seven Grand Managers LLC raised its stake in ServiceTitan by 87.5% in the 1st quarter. Seven Grand Managers LLC now owns 75,000 shares of the company's stock valued at $7,133,000 after purchasing an additional 35,000 shares during the last quarter.

Insider Buying and Selling

In related news, major shareholder Bessemer Venture Partners Viii sold 125,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $105.87, for a total transaction of $13,233,750.00. Following the sale, the insider directly owned 8,366,028 shares of the company's stock, valued at approximately $885,711,384.36. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ara Mahdessian sold 45,185 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $103.71, for a total value of $4,686,136.35. The disclosure for this sale can be found here. Insiders have sold 1,046,850 shares of company stock worth $113,753,189 in the last 90 days. 51.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TTAN has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on ServiceTitan from $109.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Wells Fargo & Company lifted their price target on ServiceTitan from $125.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Stifel Nicolaus lifted their price target on ServiceTitan from $125.00 to $135.00 and gave the company a "buy" rating in a report on Friday, September 5th. Piper Sandler lifted their price target on ServiceTitan from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Cowen reiterated a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.67.

ServiceTitan Stock Up 0.5%

Shares of NASDAQ:TTAN opened at $119.62 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The stock has a market capitalization of $10.85 billion and a P/E ratio of -22.15. The stock has a 50-day simple moving average of $109.41 and a 200-day simple moving average of $107.31.

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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