Balyasny Asset Management L.P. Acquires New Position in ServiceTitan Inc. (NASDAQ:TTAN)

Balyasny Asset Management L.P. bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 267,483 shares of the company’s stock, valued at approximately $27,516,000.

Other large investors have also modified their holdings of the company. Deer Management Co. LLC acquired a new position in shares of ServiceTitan during the 4th quarter worth $925,943,000. Battery Management Corp. purchased a new stake in ServiceTitan during the fourth quarter worth about $496,599,000. Price T Rowe Associates Inc. MD acquired a new position in ServiceTitan during the fourth quarter worth about $233,937,000. T. Rowe Price Investment Management Inc. purchased a new position in ServiceTitan in the fourth quarter valued at about $89,529,000. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of ServiceTitan during the 4th quarter valued at approximately $87,896,000.

ServiceTitan Trading Down 4.0 %

Shares of ServiceTitan stock opened at $113.00 on Wednesday. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $128.16. The business has a 50-day simple moving average of $101.33.

Analysts Set New Price Targets

A number of analysts have commented on TTAN shares. Citigroup boosted their target price on ServiceTitan from $109.00 to $113.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Needham & Company LLC upped their target price on ServiceTitan from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Stifel Nicolaus cut their price target on ServiceTitan from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 14th. Canaccord Genuity Group increased their price objective on ServiceTitan from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Finally, KeyCorp boosted their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.23.

Insider Activity

In related news, CAO Michele O’connor sold 5,494 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 89,302 shares of the company’s stock, valued at approximately $8,452,434.30. This trade represents a 5.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 directly owns 325,409 shares of the company’s stock, valued at approximately $30,799,961.85. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here.

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.