ServiceTitan Inc. $TTAN Stock Holdings Raised by Assetmark Inc.

Assetmark Inc. grew its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 24.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,603 shares of the company’s stock after buying an additional 22,825 shares during the period. Assetmark Inc. owned about 0.12% of ServiceTitan worth $7,400,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Woodline Partners LP lifted its holdings in shares of ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares during the last quarter. Cetera Investment Advisers acquired a new stake in ServiceTitan in the second quarter worth $345,000. Russell Investments Group Ltd. acquired a new stake in ServiceTitan in the second quarter worth $500,000. Northwestern Mutual Wealth Management Co. lifted its stake in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ServiceTitan in the second quarter valued at $393,000.

Insider Activity at ServiceTitan

In other news, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the transaction, the director owned 443,221 shares of the company’s stock, valued at $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the transaction, the insider owned 443,221 shares in the company, valued at $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 296,664 shares of company stock valued at $19,958,797. 39.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TTAN has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, June 17th. Truist Financial reiterated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Robert W. Baird raised their target price on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Finally, KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Stock Down 8.2%

Shares of TTAN stock opened at $72.96 on Wednesday. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The business’s 50 day moving average is $69.92 and its two-hundred day moving average is $71.76. The company has a market cap of $6.96 billion, a PE ratio of -50.32 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. As a group, equities analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

ServiceTitan Company Profile

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.