Durable Capital Partners LP Acquires New Holdings in ServiceTitan Inc. (NASDAQ:TTAN)

Durable Capital Partners LP bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 741,403 shares of the company’s stock, valued at approximately $76,268,000. Durable Capital Partners LP owned 0.97% of ServiceTitan as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TTAN. SBI Securities Co. Ltd. bought a new stake in ServiceTitan in the 4th quarter valued at $26,000. Assetmark Inc. bought a new stake in shares of ServiceTitan in the fourth quarter valued at about $67,000. FIL Ltd bought a new stake in shares of ServiceTitan in the fourth quarter valued at about $67,000. Tower Research Capital LLC TRC acquired a new position in shares of ServiceTitan during the fourth quarter worth about $91,000. Finally, Insight Holdings Group LLC bought a new position in shares of ServiceTitan during the fourth quarter worth about $103,000.

ServiceTitan Trading Down 4.0 %

TTAN opened at $113.00 on Wednesday. The firm has a fifty day simple moving average of $101.33. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $128.16.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CAO Michele O’connor sold 5,494 shares of the company’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 $520,007.10. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David Sherry sold 10,175 shares of the 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 transaction, the chief financial officer now owns 325,409 shares in the company, valued at $30,799,961.85. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TTAN. Piper Sandler reaffirmed an “overweight” rating and set a $125.00 price target on shares of ServiceTitan in a research note on Friday, March 14th. Morgan Stanley raised their target price on shares of ServiceTitan from $104.00 to $107.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Citigroup boosted their price target on shares of ServiceTitan from $109.00 to $113.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group raised their price objective on ServiceTitan from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Finally, Loop Capital dropped their target price on ServiceTitan from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

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.