Battery Management Corp. Makes New Investment in ServiceTitan Inc. (NASDAQ:TTAN)

Battery Management Corp. purchased a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,827,441 shares of the company's stock, valued at approximately $496,599,000. ServiceTitan accounts for about 63.6% of Battery Management Corp.'s investment portfolio, making the stock its largest position. Battery Management Corp. owned about 6.31% of ServiceTitan at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TimesSquare Capital Management LLC bought a new position in shares of ServiceTitan in the fourth quarter worth approximately $87,896,000. New York State Common Retirement Fund bought a new stake in ServiceTitan in the 4th quarter worth $3,692,000. Principal Financial Group Inc. purchased a new position in shares of ServiceTitan in the fourth quarter valued at about $25,365,000. Assetmark Inc. purchased a new position in shares of ServiceTitan in the fourth quarter valued at about $67,000. Finally, Victory Capital Management Inc. bought a new position in shares of ServiceTitan during the fourth quarter valued at about $10,450,000.

ServiceTitan Stock Performance

TTAN traded down $3.50 during midday trading on Monday, reaching $84.93. The company's stock had a trading volume of 439,766 shares, compared to its average volume of 260,959. ServiceTitan Inc. has a 1 year low of $83.74 and a 1 year high of $112.00. The company's 50-day simple moving average is $98.52.

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

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Analyst Ratings Changes

A number of research analysts recently issued reports on TTAN shares. Citigroup boosted 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. Piper Sandler initiated coverage on ServiceTitan in a research note on Monday, January 6th. They set an "overweight" rating and a $125.00 target price on the stock. Stifel Nicolaus began coverage on ServiceTitan in a research note on Monday, January 6th. They issued a "buy" rating and a $120.00 price target for the company. Wells Fargo & Company began coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued an "overweight" rating and a $125.00 price target on the stock. Finally, Needham & Company LLC restated a "buy" rating and issued a $125.00 price objective on shares of ServiceTitan in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ServiceTitan currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.17.

ServiceTitan 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.