Geode Capital Management LLC Takes $6.48 Million Position in ServiceTitan Inc. (NASDAQ:TTAN)

Geode Capital Management LLC bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 63,031 shares of the company's stock, valued at approximately $6,484,000. Geode Capital Management LLC owned 0.08% of ServiceTitan as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in ServiceTitan during the fourth quarter worth $57,349,000. TimesSquare Capital Management LLC acquired a new stake in shares of ServiceTitan during the 4th quarter valued at $87,896,000. Battery Management Corp. bought a new stake in ServiceTitan during the 4th quarter worth $496,599,000. Avantax Advisory Services Inc. acquired a new position in ServiceTitan in the 4th quarter worth about $227,000. Finally, Artisan Partners Limited Partnership bought a new position in ServiceTitan in the fourth quarter valued at about $26,439,000.

Analyst Upgrades and Downgrades

Several research firms recently commented on TTAN. Piper Sandler reiterated an "overweight" rating and set a $125.00 target price on shares of ServiceTitan in a research report on Friday, March 14th. Needham & Company LLC increased their price target on ServiceTitan from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday. Stifel Nicolaus dropped their price objective on ServiceTitan from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. KeyCorp raised their target price on ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Truist Financial started coverage on ServiceTitan in a research note on Monday, January 6th. They issued a "buy" rating and a $120.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $118.23.

ServiceTitan Stock Performance

ServiceTitan stock traded down $0.10 during midday trading on Tuesday, hitting $119.24. 334,575 shares of the stock were exchanged, compared to its average volume of 386,512. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $128.16. The stock's 50-day simple moving average is $98.75.

Insider Activity

In related news, CFO David Sherry sold 10,175 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 transaction of $963,063.75. Following the completion of the transaction, the chief financial officer now owns 325,409 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michele O'connor sold 5,494 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 $520,007.10. Following the completion of 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 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.