Emergence GP Partners LLC Takes $11.98 Million Position in ServiceTitan Inc. (NASDAQ:TTAN)

Emergence GP Partners LLC bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 116,499 shares of the company's stock, valued at approximately $11,984,000. ServiceTitan comprises 4.4% of Emergence GP Partners LLC's holdings, making the stock its 4th biggest position. Emergence GP Partners LLC owned 0.15% of ServiceTitan as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in TTAN. Battery Management Corp. purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $496,599,000. TimesSquare Capital Management LLC purchased a new stake in ServiceTitan during the 4th quarter worth approximately $87,896,000. Vanguard Group Inc. acquired a new position in ServiceTitan during the 4th quarter valued at approximately $57,349,000. Massachusetts Financial Services Co. MA purchased a new position in shares of ServiceTitan in the fourth quarter worth $49,396,000. Finally, Franklin Resources Inc. purchased a new stake in shares of ServiceTitan during the fourth quarter valued at $47,148,000.

Insider Activity at ServiceTitan

In other news, CAO Michele O'connor sold 5,494 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the transaction, the chief accounting officer now owns 89,302 shares of the company's stock, valued at $8,452,434.30. This represents a 5.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David Sherry sold 10,175 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $963,063.75. Following the transaction, the chief financial officer now owns 325,409 shares of the company's stock, 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 Price Performance

Shares of ServiceTitan stock traded up $2.23 during mid-day trading on Friday, reaching $119.89. 616,463 shares of the stock traded hands, compared to its average volume of 381,895. The company has a 50-day moving average price of $96.08. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $123.48.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TTAN shares. Morgan Stanley lifted their price target on ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Baird R W upgraded shares of ServiceTitan to a "strong-buy" rating in a report on Friday, December 27th. Piper Sandler restated an "overweight" rating and set a $125.00 price objective on shares of ServiceTitan in a research note on Friday, March 14th. KeyCorp assumed coverage on shares of ServiceTitan in a research note on Monday, January 6th. They issued an "overweight" rating and a $120.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set an "overweight" rating and a $125.00 target price for the company. Four investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $115.54.

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.