LMR Partners LLP Buys Shares of 24,500 ServiceTitan Inc. (NASDAQ:TTAN)

LMR Partners LLP acquired a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,500 shares of the company's stock, valued at approximately $2,520,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TTAN. Principal Financial Group Inc. purchased a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $25,365,000. New York State Common Retirement Fund purchased a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $3,692,000. TimesSquare Capital Management LLC purchased a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $87,896,000. SBI Securities Co. Ltd. purchased a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $26,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $10,450,000.

ServiceTitan Price Performance

Shares of ServiceTitan stock traded up $4.23 during trading hours on Friday, reaching $129.26. The company had a trading volume of 422,689 shares, compared to its average volume of 393,940. The business has a fifty day moving average price of $106.63. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33.

Insider Transactions at ServiceTitan

In other news, CAO Michele O'connor sold 5,494 shares of the firm'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 $520,007.10. Following the transaction, the chief accounting officer now directly 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 filing with the SEC, which is available at this link. Also, CFO David Sherry sold 10,175 shares of the firm'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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 51.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TTAN. TD Cowen began coverage on ServiceTitan in a research report on Tuesday, April 8th. They set a "buy" rating and a $120.00 price target for the company. Needham & Company LLC increased their price target on ServiceTitan from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Stifel Nicolaus decreased their price target on ServiceTitan from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Piper Sandler reissued an "overweight" rating and issued a $125.00 target price on shares of ServiceTitan in a research report on Friday, March 14th. Finally, Morgan Stanley raised their target price on ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $118.23.

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.