Diametric Capital LP Buys New Position in ServiceTitan Inc. (NASDAQ:TTAN)

Diametric Capital LP bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,638 shares of the company’s stock, valued at approximately $889,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. bought a new stake in shares of ServiceTitan during the 4th quarter worth $25,365,000. New York State Common Retirement Fund bought a new stake in ServiceTitan during the fourth quarter worth about $3,692,000. TimesSquare Capital Management LLC purchased a new position in shares of ServiceTitan in the 4th quarter worth about $87,896,000. SBI Securities Co. Ltd. bought a new position in shares of ServiceTitan during the 4th quarter valued at about $26,000. Finally, Victory Capital Management Inc. purchased a new position in shares of ServiceTitan during the 4th quarter valued at about $10,450,000.

Insider Activity at ServiceTitan

In other news, CAO Michele O’connor sold 5,494 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 $520,007.10. Following the sale, the chief accounting officer now owns 89,302 shares in the company, valued at approximately $8,452,434.30. The trade was a 5.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David Sherry sold 10,175 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 325,409 shares in the company, 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.

ServiceTitan Stock Performance

TTAN opened at $95.11 on Tuesday. The company’s 50 day simple moving average is $96.31. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $112.00.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Monday, January 13th. The company reported ($1.18) earnings per share for the quarter. As a group, equities analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley upped their target price on ServiceTitan from $104.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Canaccord Genuity Group started coverage on shares of ServiceTitan in a report on Monday, January 6th. They set a “buy” rating and a $120.00 target price on the stock. Baird R W upgraded shares of ServiceTitan to a “strong-buy” rating in a research report on Friday, December 27th. Citigroup upped their price target on shares of ServiceTitan from $109.00 to $113.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company started coverage on ServiceTitan in a report on Monday, January 6th. They issued an “overweight” rating and a $125.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceTitan has an average rating of “Moderate Buy” and an average price target of $114.33.

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.