Wellington Management Group LLP purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,058 shares of the company's stock, valued at approximately $3,092,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of ServiceTitan during the 4th quarter valued at approximately $26,000. Assetmark Inc. purchased a new stake in ServiceTitan during the fourth quarter worth $67,000. FIL Ltd acquired a new stake in ServiceTitan in the fourth quarter valued at $67,000. Tower Research Capital LLC TRC acquired a new stake in ServiceTitan in the 4th quarter valued at about $91,000. Finally, Insight Holdings Group LLC acquired a new stake in ServiceTitan in the 4th quarter valued at about $103,000.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on TTAN shares. Piper Sandler reaffirmed an "overweight" rating and issued a $125.00 target price on shares of ServiceTitan in a research note on Friday, March 14th. Morgan Stanley lifted their price target on shares of ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday. KeyCorp boosted their target price on ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Robert W. Baird boosted their price objective on ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Canaccord Genuity Group boosted their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $122.21.
Read Our Latest Stock Report on TTAN
Insider Transactions at ServiceTitan
In related news, CAO Michele O'connor sold 5,494 shares of the 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 sale, the chief accounting officer now owns 89,302 shares in the company, valued at approximately $8,452,434.30. This trade represents a 5.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David Sherry sold 10,175 shares of the firm'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 completion of the sale, the chief financial officer now owns 325,409 shares in the company, valued at $30,799,961.85. This represents a 3.03% decrease in their position. The disclosure for this sale can be found here. Company insiders own 51.72% of the company's stock.
ServiceTitan Trading Down 6.9%
Shares of NASDAQ:TTAN traded down $7.95 during trading on Friday, hitting $106.60. 3,171,314 shares of the stock were exchanged, compared to its average volume of 459,819. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The company has a fifty day moving average price of $113.66.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. The company's revenue for the quarter was up 26.6% compared to the same quarter last year. On average, sell-side analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current year.
About ServiceTitan
(
Free Report)
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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