Greycroft LP Takes Position in ServiceTitan Inc. (NASDAQ:TTAN)

Greycroft LP bought a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,500 shares of the company's stock, valued at approximately $360,000. ServiceTitan accounts for approximately 0.3% of Greycroft LP's holdings, making the stock its 10th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTAN. SBI Securities Co. Ltd. purchased a new position in shares of ServiceTitan in the 4th quarter valued at $26,000. Assetmark Inc. purchased a new position in ServiceTitan in the fourth quarter valued at about $67,000. FIL Ltd purchased a new position in ServiceTitan in the fourth quarter valued at about $67,000. Tower Research Capital LLC TRC acquired a new position in shares of ServiceTitan during the fourth quarter worth about $91,000. Finally, Insight Holdings Group LLC acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $103,000.

ServiceTitan Trading Up 7.1 %

TTAN stock opened at $124.22 on Friday. The firm's 50 day moving average price is $102.92. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $128.16.

Insider Buying and Selling at ServiceTitan

In other news, CFO David Sherry sold 10,175 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was 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 in the company, valued at approximately $30,799,961.85. This represents a 3.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief accounting officer now directly 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 disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler restated an "overweight" rating and issued a $125.00 price target on shares of ServiceTitan in a report on Friday, March 14th. Stifel Nicolaus lowered their price target on shares of ServiceTitan from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, March 14th. Morgan Stanley boosted their price objective on shares of ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. KeyCorp raised their target price on ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Loop Capital dropped their target price on ServiceTitan from $105.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, March 14th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $118.23.

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.

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