Squarepoint Ops LLC Invests $3.48 Million in ServiceTitan Inc. (NASDAQ:TTAN)

Squarepoint Ops LLC acquired a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 33,845 shares of the company's stock, valued at approximately $3,482,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TPG GP A LLC purchased a new position in ServiceTitan in the 4th quarter valued at $525,405,000. Thoma Bravo L.P. acquired a new stake in shares of ServiceTitan in the 4th quarter worth $106,892,000. Scientech Research LLC acquired a new stake in shares of ServiceTitan in the 4th quarter worth $1,117,000. Seven Grand Managers LLC acquired a new stake in shares of ServiceTitan in the 4th quarter worth $4,115,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of ServiceTitan in the 4th quarter worth $5,371,000.

ServiceTitan Price Performance

NASDAQ:TTAN traded down $1.45 on Friday, reaching $111.65. 480,846 shares of the company's stock were exchanged, compared to its average volume of 407,004. The business has a fifty day simple moving average of $112.26. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $131.33.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TTAN shares. Needham & Company LLC raised their target price on ServiceTitan from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a research note on Wednesday, May 21st. KeyCorp raised their target price on ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. TD Cowen initiated coverage on ServiceTitan in a research note on Tuesday, April 8th. They issued a "buy" rating and a $120.00 target price for the company. Finally, Piper Sandler reissued an "overweight" rating and set a $125.00 price objective on shares of ServiceTitan in a research report on Friday, March 14th. Four investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.86.

Insiders Place Their Bets

In other news, CFO David Sherry sold 10,175 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $963,063.75. Following the completion of the transaction, the chief financial officer now directly owns 325,409 shares of the company's stock, valued at approximately $30,799,961.85. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michele O'connor sold 5,494 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the transaction, the chief accounting officer now directly owns 89,302 shares of the company's stock, valued at approximately $8,452,434.30. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 51.72% of the company's stock.

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.