Roubaix Capital LLC Takes $4.03 Million Position in ServiceTitan Inc. (NASDAQ:TTAN)

Roubaix Capital LLC bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,330 shares of the company’s stock, valued at approximately $4,026,000. ServiceTitan makes up about 2.1% of Roubaix Capital LLC’s portfolio, making the stock its 21st biggest position. Roubaix Capital LLC owned approximately 0.05% of ServiceTitan at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jane Street Group LLC bought a new position in ServiceTitan in the fourth quarter worth approximately $529,000. Bank of America Corp DE bought a new position in shares of ServiceTitan in the 4th quarter worth $540,000. Nuveen Asset Management LLC bought a new position in shares of ServiceTitan in the 4th quarter worth $7,793,000. D. E. Shaw & Co. Inc. acquired a new stake in ServiceTitan in the 4th quarter valued at $1,543,000. Finally, Barclays PLC bought a new stake in ServiceTitan during the 4th quarter valued at $267,000.

Insider Activity at ServiceTitan

In related news, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of ServiceTitan stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $102.00, for a total value of $51,000,000.00. Following the sale, the insider owned 8,503,571 shares of the company’s stock, valued at approximately $867,364,242. The trade was a 5.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Iconiq Strategic Partners V, L sold 52,082 shares of the company’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total value of $5,728,499.18. Following the completion of the transaction, the insider owned 648,606 shares in the company, valued at approximately $71,340,173.94. The trade was a 7.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,461,518 shares of company stock valued at $155,943,554 over the last quarter. 51.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TTAN has been the topic of a number of recent research reports. Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Wednesday, May 21st. Piper Sandler reiterated an “overweight” rating and set a $150.00 price target (up previously from $125.00) on shares of ServiceTitan in a research note on Tuesday, July 22nd. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of ServiceTitan in a report on Friday, June 6th. Robert W. Baird raised their target price on ServiceTitan from $106.00 to $124.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Finally, Loop Capital reaffirmed a “hold” rating and set a $100.00 target price (up previously from $90.00) on shares of ServiceTitan in a research report on Friday, June 6th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

ServiceTitan Trading Up 2.0%

Shares of NASDAQ:TTAN opened at $103.70 on Friday. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The business has a fifty day moving average price of $108.85 and a two-hundred day moving average price of $106.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The company had revenue of $215.69 million during the quarter, compared to analysts’ expectations of $208.61 million. ServiceTitan’s quarterly revenue was up 26.6% on a year-over-year basis. Sell-side analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

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.