Tpg Gp A LLC Takes $525.41 Million Position in ServiceTitan Inc. (NASDAQ:TTAN)

Tpg Gp A LLC purchased a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,107,469 shares of the company’s stock, valued at approximately $525,405,000. ServiceTitan comprises about 8.5% of Tpg Gp A LLC’s holdings, making the stock its 4th biggest holding. Tpg Gp A LLC owned 0.07% of ServiceTitan as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Thoma Bravo L.P. purchased a new position in shares of ServiceTitan in the fourth quarter worth approximately $106,892,000. Scientech Research LLC purchased a new position in shares of ServiceTitan in the fourth quarter worth approximately $1,117,000. Seven Grand Managers LLC purchased a new position in shares of ServiceTitan in the fourth quarter worth approximately $4,115,000. Point72 Asset Management L.P. purchased a new position in shares of ServiceTitan in the fourth quarter worth approximately $5,371,000. Finally, MSD Partners L.P. purchased a new position in shares of ServiceTitan in the fourth quarter worth approximately $1,892,000.

Insider Activity

In related news, CAO Michele O’connor sold 5,494 shares of the business’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 owns 89,302 shares in the company, valued at approximately $8,452,434.30. The trade was a 5.80% decrease in their ownership of the stock. The sale 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 business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 325,409 shares in the company, valued at $30,799,961.85. This represents a 3.03% decrease in their position. The disclosure for this sale can be found here. Company insiders own 51.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TTAN shares. Morgan Stanley raised their price objective on shares of ServiceTitan from $104.00 to $107.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. KeyCorp raised their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. TD Cowen began coverage on shares of ServiceTitan in a research note on Tuesday, April 8th. They set a “buy” rating and a $120.00 target price on the stock. Canaccord Genuity Group raised their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Finally, Needham & Company LLC raised their target price on shares of ServiceTitan from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.23.

ServiceTitan Trading Up 3.4%

ServiceTitan stock opened at $129.26 on Monday. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The firm’s 50 day moving average is $106.63.

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.