Artisan Partners Limited Partnership Invests $26.44 Million in ServiceTitan Inc. (NASDAQ:TTAN)

Artisan Partners Limited Partnership purchased a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 257,018 shares of the company’s stock, valued at approximately $26,439,000. Artisan Partners Limited Partnership owned approximately 0.34% of ServiceTitan at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC acquired a new stake in shares of ServiceTitan during the fourth quarter valued at about $87,896,000. Battery Management Corp. purchased a new position in ServiceTitan in the fourth quarter valued at about $496,599,000. Avantax Advisory Services Inc. acquired a new stake in ServiceTitan during the 4th quarter valued at approximately $227,000. Assetmark Inc. purchased a new stake in ServiceTitan during the 4th quarter worth approximately $67,000. Finally, Burkehill Global Management LP acquired a new position in shares of ServiceTitan in the 4th quarter valued at approximately $5,144,000.

ServiceTitan Stock Up 0.3 %

NASDAQ:TTAN opened at $95.40 on Friday. The firm’s 50 day moving average is $96.37. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $112.00.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Monday, January 13th. The company reported ($1.18) earnings per share (EPS) for the quarter. Equities analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. William Blair started coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set an “outperform” rating for the company. Piper Sandler reissued an “overweight” rating and issued a $125.00 target price on shares of ServiceTitan in a research report on Friday, March 14th. Wells Fargo & Company started coverage on shares of ServiceTitan in a research note on Monday, January 6th. They issued an “overweight” rating and a $125.00 target price on the stock. Loop Capital decreased their price target on ServiceTitan from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, March 14th. Finally, Canaccord Genuity Group initiated coverage on ServiceTitan in a research note on Monday, January 6th. They set a “buy” rating and a $120.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Insider Buying and Selling at ServiceTitan

In related news, CAO Michele O’connor sold 5,494 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $520,007.10. Following the completion of the sale, the chief accounting officer now owns 89,302 shares of the company’s stock, valued at $8,452,434.30. This represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Sherry sold 10,175 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $963,063.75. Following the transaction, the chief financial officer now directly owns 325,409 shares in the company, valued at approximately $30,799,961.85. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here.

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.