Capital Research Global Investors Acquires Shares of 350,000 ServiceTitan Inc. (NASDAQ:TTAN)

Capital Research Global Investors purchased a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 350,000 shares of the company's stock, valued at approximately $36,004,000. Capital Research Global Investors owned approximately 0.46% of ServiceTitan as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of ServiceTitan during the fourth quarter worth approximately $26,000. Assetmark Inc. acquired a new stake in shares of ServiceTitan during the 4th quarter worth approximately $67,000. FIL Ltd bought a new stake in shares of ServiceTitan during the fourth quarter worth approximately $67,000. Avantax Advisory Services Inc. acquired a new position in ServiceTitan in the fourth quarter valued at approximately $227,000. Finally, Barclays PLC bought a new position in ServiceTitan in the fourth quarter valued at approximately $267,000.

ServiceTitan Trading Down 0.5 %

TTAN traded down $0.62 during trading hours on Friday, hitting $125.37. 213,412 shares of the company's stock were exchanged, compared to its average volume of 385,480. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $128.16. The firm has a 50-day moving average price of $98.34.

Analysts Set New Price Targets

Several equities analysts have weighed in on TTAN shares. Morgan Stanley increased their target price on ServiceTitan from $104.00 to $107.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. TD Cowen initiated coverage on shares of ServiceTitan in a research note on Tuesday, April 8th. They issued a "buy" rating and a $120.00 target price for the company. Stifel Nicolaus decreased their price target on shares of ServiceTitan from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, March 14th. Baird R W raised ServiceTitan to a "strong-buy" rating in a research note on Friday, December 27th. Finally, Citigroup boosted their target price on ServiceTitan from $109.00 to $113.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $117.08.

Insider Buying and Selling

In other ServiceTitan news, CAO Michele O'connor sold 5,494 shares of ServiceTitan stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the completion of the transaction, the chief accounting officer now directly owns 89,302 shares of the company's stock, valued at $8,452,434.30. The trade was a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Sherry sold 10,175 shares of the company's stock in a transaction 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 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 disclosure for this sale can be found here.

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.