ServiceTitan Inc. $TTAN Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. boosted its stake in ServiceTitan by 1,087.4% in Q4, purchasing 85,880 shares to hold 93,778 shares worth about $9.99 million (≈0.10% of the company).
• Insiders sold 34,418 shares last quarter (~$2.37M), including CFO David Sherry (17,778 shares) and CEO Ara Mahdessian (2,288 shares), though insiders still own 51.72% of the stock.
• Multiple analysts trimmed price targets recently (e.g., Piper Sandler to $100, KeyCorp to $120), but the consensus is a "Moderate Buy" with an average target of $112.31; the firm beat the latest EPS and revenue estimates despite negative margins.

Assetmark Inc. lifted its position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 1,087.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,778 shares of the company's stock after purchasing an additional 85,880 shares during the period. Assetmark Inc. owned about 0.10% of ServiceTitan worth $9,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ServiceTitan by 538.4% during the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company's stock worth $446,670,000 after buying an additional 3,735,968 shares in the last quarter. Truist Financial Corp lifted its position in shares of ServiceTitan by 84.3% during the third quarter. Truist Financial Corp now owns 42,789 shares of the company's stock worth $4,314,000 after purchasing an additional 19,577 shares in the last quarter. Thornburg Investment Management Inc. acquired a new stake in shares of ServiceTitan during the third quarter worth about $8,338,000. Sandhill Capital Partners LLC acquired a new stake in shares of ServiceTitan during the third quarter worth about $27,062,000. Finally, Rakuten Investment Management Inc. purchased a new position in ServiceTitan in the third quarter valued at $5,376,000.

Insider Transactions at ServiceTitan

In related news, CFO David Sherry sold 17,778 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the sale, the chief financial officer directly owned 313,025 shares of the company's stock, valued at approximately $21,867,926.50. This represents a 5.37% 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 2,288 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 $159,839.68. Following the completion of the sale, the chief executive officer directly owned 1 shares in the company, valued at $69.86. This represents a 99.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 34,418 shares of company stock valued at $2,370,319. 51.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler decreased their target price on ServiceTitan from $120.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday. KeyCorp reduced their target price on shares of ServiceTitan from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, March 13th. BMO Capital Markets cut their price objective on shares of ServiceTitan from $108.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 13th. Needham & Company LLC cut their price objective on shares of ServiceTitan from $140.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Finally, Truist Financial cut their price objective on shares of ServiceTitan from $130.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $112.31.

ServiceTitan Stock Up 2.3%

NASDAQ TTAN opened at $64.31 on Friday. The stock has a market cap of $6.02 billion, a PE ratio of -37.39 and a beta of -0.14. The business has a 50 day moving average price of $66.55 and a two-hundred day moving average price of $85.49. ServiceTitan Inc. has a fifty-two week low of $55.23 and a fifty-two week high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $253.99 million during the quarter, compared to analysts' expectations of $245.47 million. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The business's revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 EPS. Sell-side analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current fiscal 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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