Franklin Resources Inc. Makes New $47.15 Million Investment in ServiceTitan Inc. (NASDAQ:TTAN)

Franklin Resources Inc. purchased a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 458,327 shares of the company's stock, valued at approximately $47,148,000. Franklin Resources Inc. owned about 0.60% of ServiceTitan as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Battery Management Corp. bought a new position in shares of ServiceTitan during the 4th quarter valued at $496,599,000. TimesSquare Capital Management LLC bought a new stake in shares of ServiceTitan during the 4th quarter valued at about $87,896,000. Vanguard Group Inc. bought a new position in shares of ServiceTitan in the 4th quarter worth approximately $57,349,000. Artisan Partners Limited Partnership purchased a new position in shares of ServiceTitan in the fourth quarter worth approximately $26,439,000. Finally, Principal Financial Group Inc. bought a new stake in ServiceTitan during the fourth quarter valued at approximately $25,365,000.

Insider Activity at ServiceTitan

In related news, CAO Michele O'connor sold 5,494 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the transaction, the chief accounting officer now directly owns 89,302 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, CFO David Sherry sold 10,175 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were 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 $30,799,961.85. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TTAN shares. Canaccord Genuity Group assumed coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set a "buy" rating and a $120.00 price objective for the company. The Goldman Sachs Group began coverage on ServiceTitan in a research report on Monday, January 6th. They issued a "neutral" rating and a $100.00 price target for the company. Robert W. Baird assumed coverage on ServiceTitan in a research report on Friday, December 27th. They set an "outperform" rating and a $117.00 price objective on the stock. Piper Sandler reissued an "overweight" rating and issued a $125.00 target price on shares of ServiceTitan in a report on Friday, March 14th. Finally, KeyCorp assumed coverage on shares of ServiceTitan in a report on Monday, January 6th. They set an "overweight" rating and a $120.00 price target on the stock. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceTitan has a consensus rating of "Moderate Buy" and a consensus target price of $114.77.

ServiceTitan Stock Down 1.9 %

Shares of NASDAQ:TTAN traded down $1.90 on Thursday, reaching $96.16. The company's stock had a trading volume of 35,562 shares, compared to its average volume of 365,071. The business has a 50-day moving average price of $95.01. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $112.00.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings data on Monday, January 13th. The company reported ($1.18) earnings per share for the quarter. On average, analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

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.