Whale Rock Capital Management LLC Makes New Investment in ServiceTitan Inc. (NASDAQ:TTAN)

Whale Rock Capital Management LLC acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 40,000 shares of the company's stock, valued at approximately $4,115,000. Whale Rock Capital Management LLC owned about 0.05% of ServiceTitan at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TTAN. SBI Securities Co. Ltd. purchased a new stake in ServiceTitan in the fourth quarter worth approximately $26,000. Assetmark Inc. purchased a new stake in shares of ServiceTitan in the 4th quarter valued at $67,000. FIL Ltd bought a new position in shares of ServiceTitan during the 4th quarter valued at $67,000. Tower Research Capital LLC TRC purchased a new position in ServiceTitan in the 4th quarter worth $91,000. Finally, Insight Holdings Group LLC bought a new stake in ServiceTitan in the fourth quarter worth $103,000.

ServiceTitan Price Performance

NASDAQ:TTAN opened at $129.37 on Tuesday. The stock has a 50-day moving average of $107.51. ServiceTitan Inc. has a 12 month low of $79.81 and a 12 month high of $131.33.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Needham & Company LLC raised their price objective on ServiceTitan from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Loop Capital decreased their price target on ServiceTitan from $105.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, March 14th. Morgan Stanley boosted their price objective on ServiceTitan from $104.00 to $107.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Canaccord Genuity Group raised their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Piper Sandler reiterated an "overweight" rating and set a $125.00 price target on shares of ServiceTitan in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $118.23.

Insider Buying and Selling

In other news, CAO Michele O'connor sold 5,494 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the completion of the transaction, the chief accounting officer now owns 89,302 shares in the company, valued at $8,452,434.30. This trade represents a 5.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Sherry sold 10,175 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares in the company, valued at approximately $30,799,961.85. The trade was a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.72% of the stock is owned by 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.

Want to see what other hedge funds are holding TTAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceTitan Inc. (NASDAQ:TTAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.