ServiceTitan Inc. (NASDAQ:TTAN) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 20.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,850 shares of the company's stock after acquiring an additional 20,270 shares during the quarter. Victory Capital Management Inc. owned approximately 0.16% of ServiceTitan worth $11,589,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TTAN. Avantax Advisory Services Inc. bought a new position in ServiceTitan during the fourth quarter valued at about $227,000. Virtu Financial LLC purchased a new position in ServiceTitan in the 4th quarter worth about $473,000. Sei Investments Co. bought a new position in shares of ServiceTitan during the 4th quarter valued at approximately $1,593,000. Vanguard Group Inc. bought a new position in shares of ServiceTitan during the 4th quarter valued at approximately $57,349,000. Finally, Artisan Partners Limited Partnership bought a new stake in ServiceTitan in the fourth quarter worth about $26,439,000.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 42,666 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $112.51, for a total transaction of $4,800,351.66. Following the transaction, the chief executive officer owned 1 shares in the company, valued at $112.51. The trade was a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Bessemer Venture Partners Viii sold 8,706 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $110.24, for a total transaction of $959,749.44. Following the transaction, the insider directly owned 7,966,334 shares in the company, valued at approximately $878,208,660.16. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,412,338 shares of company stock worth $150,374,391 in the last 90 days. Insiders own 51.72% of the company's stock.

ServiceTitan Stock Down 0.3%

NASDAQ TTAN traded down $0.37 during trading hours on Friday, hitting $116.94. The company's stock had a trading volume of 423,803 shares, compared to its average volume of 727,366. The company's 50-day simple moving average is $111.72 and its two-hundred day simple moving average is $105.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $215.69 million for the quarter, compared to analysts' expectations of $208.61 million. The firm's quarterly revenue was up 26.6% compared to the same quarter last year. Equities analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Needham & Company LLC reissued a "buy" rating and set a $140.00 target price on shares of ServiceTitan in a research report on Friday, June 6th. Morgan Stanley boosted their price objective on ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Loop Capital restated a "hold" rating and set a $100.00 price target (up previously from $90.00) on shares of ServiceTitan in a report on Friday, June 6th. Piper Sandler reiterated an "overweight" rating and issued a $150.00 price objective (up previously from $125.00) on shares of ServiceTitan in a report on Tuesday. Finally, KeyCorp set a $140.00 price target on ServiceTitan and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.00.

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.