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

Soros Fund Management LLC purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the company’s stock, valued at approximately $2,572,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at $26,000. Assetmark Inc. purchased a new position in shares of ServiceTitan in the fourth quarter worth approximately $67,000. FIL Ltd purchased a new position in ServiceTitan during the 4th quarter worth approximately $67,000. Tower Research Capital LLC TRC acquired a new position in ServiceTitan during the fourth quarter valued at $91,000. Finally, Insight Holdings Group LLC purchased a new stake in shares of ServiceTitan in the fourth quarter worth approximately $103,000.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CAO Michele O’connor sold 5,494 shares of ServiceTitan 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 in the company, valued at approximately $8,452,434.30. The trade was a 5.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Sherry sold 10,175 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $963,063.75. Following the sale, 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 Ratings Changes

A number of analysts recently issued reports on TTAN shares. Piper Sandler reissued an “overweight” rating and set a $125.00 price objective on shares of ServiceTitan in a research report on Friday, March 14th. Canaccord Genuity Group boosted their price objective 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. Morgan Stanley lifted their price target on ServiceTitan from $104.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. The Goldman Sachs Group assumed coverage on ServiceTitan in a research report on Monday, January 6th. They issued a “neutral” rating and a $100.00 price objective for the company. Finally, Loop Capital decreased their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceTitan currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.23.

ServiceTitan Stock Down 0.1 %

Shares of ServiceTitan stock opened at $119.24 on Wednesday. The stock has a 50-day simple moving average of $99.19. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $128.16.

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.