ServiceTitan (NASDAQ:TTAN) Trading Up 5.9% - Here's What Happened

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report)'s share price rose 5.9% on Tuesday . The company traded as high as $111.74 and last traded at $111.54. Approximately 70,820 shares traded hands during trading, a decline of 80% from the average daily volume of 360,194 shares. The stock had previously closed at $105.37.

Analyst Upgrades and Downgrades

TTAN has been the topic of a number of research analyst reports. Robert W. Baird began coverage on ServiceTitan in a research report on Friday, December 27th. They issued an "outperform" rating and a $117.00 target price on the stock. Citigroup upped their price objective on ServiceTitan from $109.00 to $113.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. The Goldman Sachs Group assumed coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued a "neutral" rating and a $100.00 target price for the company. Truist Financial 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. Finally, Stifel Nicolaus reduced their target price on shares of ServiceTitan from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Four 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. According to data from MarketBeat.com, ServiceTitan presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.54.

ServiceTitan Trading Up 1.9 %

The business has a 50-day moving average price of $96.08.

Insider Activity

In other news, CAO Michele O'connor sold 5,494 shares of ServiceTitan stock in a transaction 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 approximately $8,452,434.30. This trade represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Sherry sold 10,175 shares of the business'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 sale, 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.

Institutional Investors Weigh In On ServiceTitan

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of ServiceTitan during the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC purchased a new position in ServiceTitan during the 1st quarter worth $31,000. Assetmark Inc. bought a new stake in ServiceTitan during the 4th quarter valued at $67,000. FIL Ltd purchased a new stake in shares of ServiceTitan in the 4th quarter worth $67,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of ServiceTitan during the 4th quarter worth $91,000.

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.