Ghisallo Capital Management LLC Makes New $36.34 Million Investment in ServiceTitan Inc. (NASDAQ:TTAN)

Ghisallo Capital Management LLC bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 353,291 shares of the company's stock, valued at approximately $36,343,000. ServiceTitan makes up approximately 2.1% of Ghisallo Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Ghisallo Capital Management LLC owned approximately 0.46% of ServiceTitan at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of ServiceTitan during the 4th quarter worth about $26,000. Assetmark Inc. acquired a new position in shares of ServiceTitan during the 4th quarter worth about $67,000. FIL Ltd acquired a new position in shares of ServiceTitan during the 4th quarter worth about $67,000. Tower Research Capital LLC TRC acquired a new position in shares of ServiceTitan during the 4th quarter worth about $91,000. Finally, Avantax Advisory Services Inc. acquired a new position in shares of ServiceTitan during the 4th quarter worth about $227,000.

Analysts Set New Price Targets

TTAN has been the subject of several recent research reports. Stifel Nicolaus cut their price target on ServiceTitan from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, March 14th. Needham & Company LLC upped their price target on ServiceTitan from $125.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday. Canaccord Genuity Group upped their price target on ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Truist Financial initiated coverage on ServiceTitan in a report on Monday, January 6th. They issued a "buy" rating and a $120.00 price target for the company. Finally, Citigroup upped their price target on ServiceTitan from $109.00 to $113.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $118.23.

ServiceTitan Price Performance

NASDAQ TTAN traded down $0.14 during trading hours on Thursday, reaching $115.47. 178,513 shares of the company's stock were exchanged, compared to its average volume of 383,186. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $128.16. The business's fifty day simple moving average is $99.57.

Insider Buying and Selling

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

ServiceTitan 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.