ServiceTitan Inc.'s (NASDAQ:TTAN) Lock-Up Period Set To Expire on June 10th

ServiceTitan's (NASDAQ:TTAN - Get Free Report) lock-up period will expire on Tuesday, June 10th. ServiceTitan had issued 8,800,000 shares in its public offering on December 12th. The total size of the offering was $624,800,000 based on an initial share price of $71.00. After the expiration of ServiceTitan's lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analysts Set New Price Targets

TTAN has been the topic of a number of recent analyst reports. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. TD Securities upped their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Canaccord Genuity Group increased their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $125.00 price objective on shares of ServiceTitan in a report on Friday, March 14th. Finally, Morgan Stanley upped their target price on shares of ServiceTitan from $104.00 to $107.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.36.

ServiceTitan Trading Up 1.4%

Shares of NASDAQ TTAN traded up $1.56 during mid-day trading on Wednesday, hitting $114.71. The company had a trading volume of 875,223 shares, compared to its average volume of 422,335. ServiceTitan has a 12 month low of $79.81 and a 12 month high of $131.33. The firm's 50 day simple moving average is $112.88.

Insiders Place Their Bets

In other news, CFO David Sherry sold 10,175 shares of ServiceTitan 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michele O'connor sold 5,494 shares of the business'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 transaction, the chief accounting officer now owns 89,302 shares of the company's stock, valued at approximately $8,452,434.30. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.72% of the stock is owned by corporate insiders.

Institutional Trading of ServiceTitan

Several hedge funds have recently added to or reduced their stakes in TTAN. SBI Securities Co. Ltd. bought a new position in shares of ServiceTitan in the fourth quarter worth $26,000. Harbor Investment Advisory LLC acquired a new stake in ServiceTitan in the first quarter worth about $31,000. LRI Investments LLC bought a new position in ServiceTitan in the 1st quarter valued at about $58,000. Assetmark Inc. acquired a new position in ServiceTitan during the 4th quarter valued at about $67,000. Finally, FIL Ltd bought a new stake in shares of ServiceTitan during the 4th quarter worth about $67,000.

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.