ServiceTitan Inc. $TTAN Shares Purchased by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 235.3% in the 1st quarter, Holdings Channel reports. The fund owned 380,468 shares of the company’s stock after acquiring an additional 267,002 shares during the quarter. Jennison Associates LLC’s holdings in ServiceTitan were worth $24,145,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TTAN. Toth Financial Advisory Corp boosted its holdings in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $30,000. Elevation Wealth Partners LLC acquired a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after buying an additional 392 shares in the last quarter.

Insider Buying and Selling

In other ServiceTitan news, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 20,192 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the completion of the sale, the chief financial officer directly owned 398,033 shares in the company, valued at $26,345,804.27. This trade represents a 4.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 296,664 shares of company stock valued at $19,958,797 over the last three months. Company insiders own 39.89% of the company’s stock.

ServiceTitan Stock Up 4.6%

NASDAQ:TTAN opened at $79.46 on Tuesday. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The stock’s fifty day moving average is $69.61 and its two-hundred day moving average is $71.99. The company has a market capitalization of $7.58 billion, a P/E ratio of -54.80 and a beta of 0.13.

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

Analyst Ratings Changes

TTAN has been the topic of a number of recent research reports. BTIG Research reissued a “buy” rating and set a $110.00 price objective on shares of ServiceTitan in a research note on Friday, July 10th. Piper Sandler raised their target price on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. Truist Financial reissued a “buy” rating and set a $110.00 price target (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Finally, Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Company 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.