Monashee Investment Management LLC Buys New Position in ServiceTitan Inc. (NASDAQ:TTAN)

Monashee Investment Management LLC purchased a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,500 shares of the company's stock, valued at approximately $772,000.

A number of other institutional investors also recently made changes to their positions in TTAN. Principal Financial Group Inc. acquired a new position in shares of ServiceTitan during the fourth quarter valued at approximately $25,365,000. New York State Common Retirement Fund acquired a new position in shares of ServiceTitan during the 4th quarter valued at $3,692,000. TimesSquare Capital Management LLC acquired a new position in shares of ServiceTitan during the 4th quarter valued at $87,896,000. SBI Securities Co. Ltd. bought a new stake in shares of ServiceTitan in the 4th quarter worth $26,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at $10,450,000.

Insider Activity

In other ServiceTitan news, CFO David Sherry sold 10,175 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $963,063.75. Following the transaction, 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 filing with the SEC, which is available through the SEC website. Also, CAO Michele O'connor sold 5,494 shares of the firm'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 transaction, the chief accounting officer now owns 89,302 shares in the company, 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 Stock Performance

Shares of TTAN opened at $119.24 on Wednesday. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $128.16. The company's 50 day simple moving average is $99.19.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Stifel Nicolaus cut their target price on shares of ServiceTitan from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Citigroup lifted their price target on shares of ServiceTitan from $109.00 to $113.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Wells Fargo & Company started coverage on ServiceTitan in a research report on Monday, January 6th. They set an "overweight" rating and a $125.00 price objective for the company. Finally, Truist Financial assumed coverage on ServiceTitan in a report on Monday, January 6th. They issued a "buy" rating and a $120.00 target price on the stock. Four investment 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 stock. According to MarketBeat, ServiceTitan has a consensus rating of "Moderate Buy" and a consensus target price of $118.23.

About ServiceTitan

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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