Diker Management LLC Has $1.07 Million Stock Position in ServiceTitan Inc. $TTAN

Diker Management LLC trimmed its position in ServiceTitan Inc. (NASDAQ:TTAN) by 56.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the company’s stock after selling 13,000 shares during the quarter. ServiceTitan comprises approximately 0.8% of Diker Management LLC’s holdings, making the stock its 18th largest position. Diker Management LLC’s holdings in ServiceTitan were worth $1,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after buying an additional 3,735,968 shares during the last quarter. Thornburg Investment Management Inc. bought a new stake in shares of ServiceTitan in the third quarter valued at approximately $8,338,000. Sandhill Capital Partners LLC bought a new stake in shares of ServiceTitan in the third quarter valued at approximately $27,062,000. Renaissance Capital LLC boosted its position in shares of ServiceTitan by 222.8% in the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock valued at $4,390,000 after acquiring an additional 28,454 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new position in ServiceTitan during the 3rd quarter valued at $84,983,000.

Analysts Set New Price Targets

Several research firms recently commented on TTAN. Canaccord Genuity Group cut their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Robert W. Baird upped their target price on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Piper Sandler upped their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Stifel Nicolaus set a $125.00 target price on shares of ServiceTitan in a research note on Wednesday, May 27th. Finally, Morgan Stanley upped their target price on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Stock Performance

Shares of TTAN stock opened at $66.57 on Wednesday. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of -45.91 and a beta of 0.13. The firm has a fifty day moving average of $64.23 and a 200-day moving average of $77.10.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. On average, sell-side analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other ServiceTitan news, CAO Michele O’connor sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total transaction of $691,400.00. Following the completion of the transaction, the chief accounting officer owned 81,890 shares in the company, valued at $5,661,874.60. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 39.89% of the stock is currently owned by corporate insiders.

ServiceTitan Profile

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.