Zweig DiMenna Associates LLC Buys Shares of 22,200 ServiceTitan Inc. (NASDAQ:TTAN)

Key Points

• Zweig DiMenna Associates LLC purchased 22,200 shares of ServiceTitan Inc. (NASDAQ:TTAN) for approximately $2.11 million in the first quarter, indicating strong institutional interest in the company.
• ServiceTitan reported earnings of $0.18 EPS, surpassing analysts' expectations, with revenue up 26.6% compared to the previous year.
• Analysts maintain a generally positive view on ServiceTitan, with a majority issuing buy ratings and an average target price of $124.00.

Zweig DiMenna Associates LLC bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,200 shares of the company's stock, valued at approximately $2,111,000.

Several other institutional investors also recently bought and sold shares of the company. Avantax Advisory Services Inc. purchased a new position in shares of ServiceTitan in the fourth quarter worth $227,000. Sei Investments Co. purchased a new position in shares of ServiceTitan in the fourth quarter worth $1,593,000. Vanguard Group Inc. purchased a new position in shares of ServiceTitan in the fourth quarter worth $57,349,000. Artisan Partners Limited Partnership purchased a new position in shares of ServiceTitan in the fourth quarter worth $26,439,000. Finally, Norges Bank purchased a new position in shares of ServiceTitan in the fourth quarter worth $7,715,000.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Cowen reissued a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. TD Securities raised their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. 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. Needham & Company LLC reissued a "buy" rating and set a $140.00 target price on shares of ServiceTitan in a report on Friday, June 6th. Finally, Loop Capital reissued a "hold" rating and set a $100.00 target price (up previously from $90.00) on shares of ServiceTitan in a report on Friday, June 6th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $124.00.

ServiceTitan Trading Up 0.1%

TTAN opened at $117.31 on Friday. The company has a fifty day moving average of $111.72 and a two-hundred day moving average of $105.40. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.18 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 analysts' expectations of $208.61 million. ServiceTitan's quarterly revenue was up 26.6% compared to the same quarter last year. As a group, analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In other news, Director Byron B. Deeter sold 31,187 shares of the business's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $112.60, for a total transaction of $3,511,656.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners V, L sold 38,835 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total transaction of $4,271,461.65. Following the sale, the insider directly owned 483,635 shares of the company's stock, valued at $53,195,013.65. This represents a 7.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,412,338 shares of company stock valued at $150,374,391. Corporate insiders own 51.72% of the company's stock.

ServiceTitan Company Profile

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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