Monashee Investment Management LLC Makes New Investment in ServiceTitan Inc. (NASDAQ:TTAN)

Monashee Investment Management LLC purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,500 shares of the company’s stock, valued at approximately $772,000.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in ServiceTitan in the 4th quarter valued at approximately $26,000. Assetmark Inc. bought a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $67,000. FIL Ltd bought a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $67,000. Tower Research Capital LLC TRC acquired a new stake in shares of ServiceTitan in the fourth quarter worth $91,000. Finally, Insight Holdings Group LLC bought a new position in ServiceTitan during the fourth quarter worth $103,000.

Insider Transactions at ServiceTitan

In related news, CFO David Sherry sold 10,175 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $963,063.75. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michele O’connor sold 5,494 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $520,007.10. Following the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $125.00 price target on shares of ServiceTitan in a research report on Friday, March 14th. The Goldman Sachs Group began coverage on ServiceTitan in a research report on Monday, January 6th. They set a “neutral” rating and a $100.00 target price on the stock. Morgan Stanley boosted their price target on ServiceTitan from $104.00 to $107.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Loop Capital reduced their price objective on ServiceTitan from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, March 14th. Finally, Truist Financial started coverage on ServiceTitan in a research report on Monday, January 6th. They set a “buy” rating and a $120.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

ServiceTitan Stock Down 0.1 %

Shares of ServiceTitan stock opened at $119.24 on Wednesday. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $128.16. The stock’s 50-day moving average price is $99.19.

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.