T. Rowe Price Investment Management Inc. bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 870,304 shares of the company's stock, valued at approximately $89,529,000. T. Rowe Price Investment Management Inc. owned 1.14% of ServiceTitan as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in TTAN. Battery Management Corp. acquired a new position in shares of ServiceTitan in the 4th quarter worth approximately $496,599,000. Price T Rowe Associates Inc. MD acquired a new position in shares of ServiceTitan in the 4th quarter worth approximately $233,937,000. TimesSquare Capital Management LLC acquired a new position in shares of ServiceTitan in the 4th quarter worth approximately $87,896,000. Canada Pension Plan Investment Board acquired a new position in shares of ServiceTitan in the 4th quarter worth approximately $71,155,000. Finally, Vanguard Group Inc. acquired a new position in shares of ServiceTitan in the 4th quarter worth approximately $57,349,000.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TTAN. Canaccord Genuity Group increased their target price on ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Citigroup raised their price target on ServiceTitan from $109.00 to $113.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. The Goldman Sachs Group initiated coverage on ServiceTitan in a report on Monday, January 6th. They set a "neutral" rating and a $100.00 price target for the company. William Blair initiated coverage on ServiceTitan in a report on Monday, January 6th. They set an "outperform" rating for the company. Finally, Needham & Company LLC raised their price target on ServiceTitan from $125.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday. Four research 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.23.
Read Our Latest Stock Analysis on ServiceTitan
Insiders Place Their Bets
In other news, CAO Michele O'connor sold 5,494 shares of ServiceTitan stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $520,007.10. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Sherry sold 10,175 shares of ServiceTitan stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 325,409 shares in the company, valued at $30,799,961.85. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
ServiceTitan Stock Performance
TTAN stock traded down $0.90 during mid-day trading on Thursday, hitting $114.71. 132,848 shares of the company were exchanged, compared to its average volume of 382,668. The business has a 50 day simple moving average of $99.57. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $128.16.
ServiceTitan Company Profile
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Free Report)
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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