Kayne Anderson Rudnick Investment Management LLC Purchases Shares of 124,957 ServiceTitan Inc. (NASDAQ:TTAN)

Kayne Anderson Rudnick Investment Management LLC purchased a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 124,957 shares of the company's stock, valued at approximately $12,854,000. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.16% of ServiceTitan as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $36,004,000. Capital World Investors purchased a new position in ServiceTitan during the 4th quarter valued at approximately $12,856,000. First Trust Advisors LP purchased a new position in ServiceTitan during the 4th quarter valued at approximately $2,560,000. Capital International Investors purchased a new position in ServiceTitan during the 4th quarter valued at approximately $42,982,000. Finally, Canada Pension Plan Investment Board purchased a new position in ServiceTitan during the 4th quarter valued at approximately $71,155,000.

Analyst Upgrades and Downgrades

TTAN has been the subject of several research analyst reports. TD Cowen initiated coverage on ServiceTitan in a report on Tuesday, April 8th. They set a "buy" rating and a $120.00 price target for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $125.00 price objective on shares of ServiceTitan in a research note on Friday, March 14th. Wells Fargo & Company began coverage on ServiceTitan in a research note on Monday, January 6th. They issued an "overweight" rating and a $125.00 price objective for the company. Stifel Nicolaus lowered their price objective on ServiceTitan from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Finally, William Blair began coverage on ServiceTitan in a research note on Monday, January 6th. They issued an "outperform" rating for the company. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $117.08.

Insider Buying and Selling

In related news, CFO David Sherry sold 10,175 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 $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 $30,799,961.85. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $94.65, for a total transaction 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 Price Performance

Shares of TTAN stock traded down $0.62 on Friday, hitting $125.37. The stock had a trading volume of 213,412 shares, compared to its average volume of 385,480. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $128.16. The business has a 50 day moving average price of $98.34.

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.