480,174 Shares in ServiceTitan Inc. (NASDAQ:TTAN) Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 480,174 shares of the company’s stock, valued at approximately $49,396,000. Massachusetts Financial Services Co. MA owned about 0.63% of ServiceTitan as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $26,000. Assetmark Inc. bought a new stake in ServiceTitan during the 4th quarter valued at $67,000. Avantax Advisory Services Inc. purchased a new stake in shares of ServiceTitan during the fourth quarter worth $227,000. Virtu Financial LLC bought a new position in shares of ServiceTitan in the fourth quarter worth $473,000. Finally, Diametric Capital LP purchased a new position in shares of ServiceTitan in the fourth quarter valued at $889,000.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts have commented on TTAN shares. Needham & Company LLC restated a “buy” rating and issued a $125.00 target price on shares of ServiceTitan in a research note on Friday, March 14th. Loop Capital cut their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, March 14th. Piper Sandler reaffirmed an “overweight” rating and set a $125.00 target price on shares of ServiceTitan in a report on Friday, March 14th. Stifel Nicolaus cut their price target on shares of ServiceTitan from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 14th. Finally, William Blair initiated coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.33.

ServiceTitan Stock Performance

Shares of NASDAQ:TTAN opened at $85.07 on Friday. The stock has a fifty day simple moving average of $95.86. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $112.00.

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

About ServiceTitan

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.