3,411 Shares in ServiceTitan Inc. (NASDAQ:TTAN) Bought by XTX Topco Ltd

XTX Topco Ltd bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,411 shares of the company’s stock, valued at approximately $324,000.

A number of other hedge funds also recently bought and sold shares of the business. Harbor Investment Advisory LLC purchased a new stake in shares of ServiceTitan during the first quarter worth about $31,000. LRI Investments LLC purchased a new position in shares of ServiceTitan in the first quarter valued at approximately $58,000. FIL Ltd purchased a new position in ServiceTitan in the 4th quarter valued at $67,000. Tower Research Capital LLC TRC purchased a new position in ServiceTitan in the 4th quarter valued at $91,000. Finally, Assetmark Inc. lifted its holdings in ServiceTitan by 47.2% in the 1st quarter. Assetmark Inc. now owns 960 shares of the company’s stock valued at $91,000 after purchasing an additional 308 shares in the last quarter.

Insider Activity

In related news, President Vahe Kuzoyan sold 24,582 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $112.02, for a total transaction of $2,753,675.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bessemer Venture Partners Viii sold 8,706 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $110.24, for a total transaction of $959,749.44. Following the completion of the sale, the insider directly owned 7,966,334 shares in the company, valued at approximately $878,208,660.16. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,461,518 shares of company stock worth $155,943,554 over the last 90 days. Company insiders own 51.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TTAN shares. Morgan Stanley raised their price target on shares of ServiceTitan from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, June 6th. Piper Sandler reissued an “overweight” rating and issued a $150.00 price target (up from $125.00) on shares of ServiceTitan in a research note on Tuesday, July 22nd. KeyCorp set a $140.00 target price on shares of ServiceTitan and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. TD Securities raised their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Finally, Canaccord Genuity Group raised their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceTitan has an average rating of “Moderate Buy” and an average price target of $124.00.

ServiceTitan Trading Down 7.1%

NASDAQ:TTAN opened at $102.31 on Monday. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. The stock’s fifty day moving average is $109.95 and its two-hundred day moving average is $106.64.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $215.69 million during the quarter, compared to analysts’ expectations of $208.61 million. The business’s quarterly revenue was up 26.6% on a year-over-year basis. On average, equities research analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current year.

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.