Taylor Frigon Capital Management LLC Cuts Stake in ServiceTitan Inc. $TTAN

Key Points

• Taylor Frigon Capital Management LLC reduced its stake in ServiceTitan Inc. by 25% during Q2, selling 6,525 shares, resulting in a total of 19,624 shares valued at approximately $2.1 million.
• Several institutional investors have adjusted their positions in TTAN, with Assetmark Inc. increasing its stake by 47.2% in Q1.
• Wall Street analysts have a positive outlook on ServiceTitan, raising price targets, with an average rating of "Moderate Buy" and an average price target of $132.67.

Taylor Frigon Capital Management LLC lessened its holdings in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 25.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,624 shares of the company's stock after selling 6,525 shares during the quarter. Taylor Frigon Capital Management LLC's holdings in ServiceTitan were worth $2,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TTAN. Woodline Partners LP increased its holdings in shares of ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company's stock worth $204,000 after buying an additional 95 shares during the period. Assetmark Inc. increased its stake in ServiceTitan by 47.2% in the 1st quarter. Assetmark Inc. now owns 960 shares of the company's stock worth $91,000 after purchasing an additional 308 shares during the period. Harbor Investment Advisory LLC bought a new stake in ServiceTitan in the first quarter valued at approximately $31,000. LRI Investments LLC purchased a new stake in shares of ServiceTitan during the first quarter valued at approximately $58,000. Finally, Northside Capital Management LLC bought a new position in shares of ServiceTitan in the second quarter worth approximately $284,000.

Wall Street Analyst Weigh In

TTAN has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of ServiceTitan from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Loop Capital upgraded ServiceTitan from a "hold" rating to a "buy" rating and increased their price objective for the stock from $100.00 to $140.00 in a report on Monday, August 18th. Citigroup upped their target price on ServiceTitan from $111.00 to $123.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. Stifel Nicolaus boosted their price objective on shares of ServiceTitan from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Finally, Morgan Stanley lifted their target price on shares of ServiceTitan from $109.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $132.67.

Insiders Place Their Bets

In other ServiceTitan news, major shareholder Bessemer Venture Partners Viii sold 28,245 shares of the firm's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $118.21, for a total transaction of $3,338,841.45. Following the sale, the insider owned 7,131,050 shares in the company, valued at approximately $842,961,420.50. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ara Mahdessian sold 3,059 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $116.04, for a total value of $354,966.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,501,828 shares of company stock valued at $172,073,687. 51.72% of the stock is currently owned by corporate insiders.

ServiceTitan Stock Up 1.5%

TTAN opened at $105.08 on Monday. The firm has a 50 day moving average price of $109.85 and a 200-day moving average price of $109.42. The stock has a market capitalization of $9.77 billion and a price-to-earnings ratio of -19.46. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33.

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.

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