Taylor Frigon Capital Management LLC Acquires Shares of 26,149 ServiceTitan Inc. (NASDAQ:TTAN)

Taylor Frigon Capital Management LLC bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 26,149 shares of the company's stock, valued at approximately $2,487,000. ServiceTitan accounts for approximately 1.5% of Taylor Frigon Capital Management LLC's holdings, making the stock its 10th largest position.

Several other hedge funds have also made changes to their positions in the stock. Deer Management Co. LLC bought a new stake in ServiceTitan during the 4th quarter worth about $925,943,000. TPG GP A LLC acquired a new position in shares of ServiceTitan during the 4th quarter worth about $525,405,000. Battery Management Corp. acquired a new stake in ServiceTitan in the 4th quarter valued at about $496,599,000. Price T Rowe Associates Inc. MD acquired a new stake in ServiceTitan in the 4th quarter valued at about $233,937,000. Finally, Dragoneer Investment Group LLC bought a new position in ServiceTitan during the 4th quarter worth $210,777,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TTAN shares. TD Cowen initiated coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 price target for the company. Canaccord Genuity Group lifted their price objective on ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Cowen reissued a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. Piper Sandler reiterated an "overweight" rating and set a $125.00 price target on shares of ServiceTitan in a research note on Friday, March 14th. Finally, Loop Capital reaffirmed a "hold" rating and issued a $100.00 price target (up previously from $90.00) on shares of ServiceTitan in a report on Friday, June 6th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ServiceTitan has a consensus rating of "Moderate Buy" and a consensus target price of $122.21.

ServiceTitan Trading Up 0.6%

Shares of NASDAQ:TTAN traded up $0.62 during trading on Wednesday, reaching $109.88. 1,755,877 shares of the stock traded hands, compared to its average volume of 704,618. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $131.33. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average price is $114.60.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. The business's revenue was up 26.6% on a year-over-year basis. On average, equities research analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, major shareholder Bessemer Venture Partners Viii sold 107,152 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $108.59, for a total transaction of $11,635,635.68. Following the transaction, the insider directly owned 8,140,751 shares of the company's stock, valued at $884,004,151.09. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ara Mahdessian sold 24,391 shares of ServiceTitan stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $104.65, for a total transaction of $2,552,518.15. Following the transaction, the chief executive officer directly owned 1 shares in the company, valued at $104.65. This trade represents a 100.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 936,552 shares of company stock valued at $97,604,656. 51.72% of the stock is owned by corporate insiders.

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.