Wellington Management Group LLP bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 30,058 shares of the company's stock, valued at approximately $3,092,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in ServiceTitan in the fourth quarter valued at $7,715,000. Artisan Partners Limited Partnership bought a new stake in shares of ServiceTitan in the 4th quarter worth about $26,439,000. Vanguard Group Inc. acquired a new stake in shares of ServiceTitan in the 4th quarter valued at about $57,349,000. Sei Investments Co. acquired a new stake in shares of ServiceTitan in the 4th quarter valued at about $1,593,000. Finally, Virtu Financial LLC bought a new position in shares of ServiceTitan during the fourth quarter worth about $473,000.
ServiceTitan Trading Up 9.7 %
Shares of NASDAQ TTAN traded up $10.22 during midday trading on Tuesday, hitting $115.59. 710,675 shares of the company's stock were exchanged, compared to its average volume of 370,050. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $116.39. The business's 50 day moving average is $94.87.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Monday, January 13th. The company reported ($1.18) earnings per share (EPS) for the quarter. Sell-side analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.
Insider Activity at ServiceTitan
In other ServiceTitan news, 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 transaction of $963,063.75. Following the completion of the transaction, the chief financial officer now directly owns 325,409 shares of the company's stock, valued at approximately $30,799,961.85. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $520,007.10. Following the transaction, the chief accounting officer now 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 disclosure for this sale can be found here.
Analysts Set New Price Targets
Several analysts have issued reports on TTAN shares. Piper Sandler reaffirmed an "overweight" rating and set a $125.00 target price on shares of ServiceTitan in a report on Friday, March 14th. TD Cowen started coverage on ServiceTitan in a research note on Tuesday, April 8th. They set a "buy" rating and a $120.00 price objective on the stock. Morgan Stanley boosted their target price on shares of ServiceTitan from $104.00 to $107.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Wells Fargo & Company initiated coverage on shares of ServiceTitan in a research report on Monday, January 6th. They issued an "overweight" rating and a $125.00 price target on the stock. Finally, Robert W. Baird started coverage on shares of ServiceTitan in a report on Friday, December 27th. They issued an "outperform" rating and a $117.00 price target for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.77.
Check Out Our Latest Research Report on TTAN
About ServiceTitan
(
Free Report)
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.
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