Diametric Capital LP Buys Shares of 8,638 ServiceTitan Inc. (NASDAQ:TTAN)

Diametric Capital LP bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,638 shares of the company's stock, valued at approximately $889,000.

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

ServiceTitan Stock Performance

ServiceTitan stock traded down $4.83 during midday trading on Friday, hitting $85.07. 616,994 shares of the company's stock were exchanged, compared to its average volume of 356,608. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $112.00. The business has a 50 day moving average price of $95.86.

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

Remove Ads

Insider Activity

In other news, CAO Michele O'connor sold 5,494 shares of ServiceTitan 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 sale, the chief accounting officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Sherry sold 10,175 shares of the stock in a transaction dated 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 of the company's stock, valued at $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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TTAN. Wells Fargo & Company began coverage on ServiceTitan in a report on Monday, January 6th. They issued an "overweight" rating and a $125.00 target price on the stock. Truist Financial initiated coverage on ServiceTitan in a report on Monday, January 6th. They issued a "buy" rating and a $120.00 price objective on the stock. Stifel Nicolaus decreased their target price on ServiceTitan from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group assumed coverage on shares of ServiceTitan in a research note on Monday, January 6th. They issued a "buy" rating and a $120.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on shares of ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $114.33.

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.