Wellington Management Group LLP Acquires New Position in ServiceTitan Inc. (NASDAQ:TTAN)

Wellington Management Group LLP purchased a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 30,058 shares of the company's stock, valued at approximately $3,092,000.

A number of other large investors also recently bought and sold shares of TTAN. Deer Management Co. LLC bought a new stake in ServiceTitan in the fourth quarter worth $925,943,000. TPG GP A LLC bought a new position in shares of ServiceTitan during the fourth quarter valued at $525,405,000. Battery Management Corp. purchased a new position in shares of ServiceTitan in the 4th quarter worth about $496,599,000. Price T Rowe Associates Inc. MD bought a new position in ServiceTitan in the 4th quarter worth about $233,937,000. Finally, Dragoneer Investment Group LLC bought a new position in ServiceTitan in the 4th quarter worth about $210,777,000.

Analysts Set New Price Targets

A number of research firms have weighed in on TTAN. TD Securities raised their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. KeyCorp increased their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Stifel Nicolaus boosted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 price objective on shares of ServiceTitan in a research report on Friday. Finally, Cowen reiterated a "buy" rating on shares of ServiceTitan in a research note on Wednesday, May 21st. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $122.21.

ServiceTitan Price Performance

Shares of NASDAQ TTAN traded down $7.95 during midday trading on Friday, hitting $106.60. 3,171,353 shares of the stock traded hands, compared to its average volume of 459,819. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33. The stock has a 50-day moving average price of $113.89.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates 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 company's revenue was up 26.6% compared to the same quarter last year. Equities research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

Insider Activity

In related news, CAO Michele O'connor sold 5,494 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the completion of the sale, the chief accounting officer now directly owns 89,302 shares in the company, valued at approximately $8,452,434.30. The trade was a 5.80% 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, CFO David Sherry sold 10,175 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $963,063.75. Following the sale, the chief financial officer now directly owns 325,409 shares of the company's stock, valued at approximately $30,799,961.85. This represents a 3.03% 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.

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.