Wellington Management Group LLP Invests $3.09 Million in ServiceTitan Inc. (NASDAQ:TTAN)

Wellington Management Group LLP purchased a new position 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 firm purchased 30,058 shares of the company's stock, valued at approximately $3,092,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTAN. SBI Securities Co. Ltd. bought a new position in ServiceTitan during the fourth quarter worth $26,000. Assetmark Inc. acquired a new stake in ServiceTitan during the 4th quarter worth about $67,000. Avantax Advisory Services Inc. bought a new position in shares of ServiceTitan in the 4th quarter worth about $227,000. Virtu Financial LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at about $473,000. Finally, Sei Investments Co. bought a new stake in shares of ServiceTitan during the 4th quarter valued at about $1,593,000.

ServiceTitan Stock Performance

TTAN traded down $0.91 during midday trading on Thursday, reaching $116.75. 195,029 shares of the company were exchanged, compared to its average volume of 375,992. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $123.48. The stock has a fifty day moving average of $95.36.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Monday, January 13th. The company reported ($1.18) earnings per share (EPS) for the quarter. On average, equities analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TTAN shares. William Blair initiated coverage on ServiceTitan in a research note on Monday, January 6th. They issued an "outperform" rating on the stock. Loop Capital dropped their target price on shares of ServiceTitan from $105.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company started coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued an "overweight" rating and a $125.00 price target for the company. Truist Financial assumed coverage on shares of ServiceTitan in a report on Monday, January 6th. They set a "buy" rating and a $120.00 price objective on the stock. Finally, KeyCorp began coverage on ServiceTitan in a research note on Monday, January 6th. They issued an "overweight" rating and a $120.00 target price 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $115.54.

Insiders Place Their Bets

In other ServiceTitan news, CAO Michele O'connor sold 5,494 shares of the 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 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 position. The disclosure for this sale can be found here.

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.