Zimmer Partners LP Acquires Shares of 5,000 ServiceTitan Inc. (NASDAQ:TTAN)

Zimmer Partners LP acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,000 shares of the company’s stock, valued at approximately $514,000.

Several other institutional investors and hedge funds also recently modified their holdings of TTAN. Deer Management Co. LLC purchased a new stake in shares of ServiceTitan during the 4th quarter valued at about $925,943,000. TPG GP A LLC purchased a new position in ServiceTitan in the 4th quarter worth approximately $525,405,000. Battery Management Corp. acquired a new stake in ServiceTitan in the fourth quarter valued at approximately $496,599,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $233,937,000. Finally, Dragoneer Investment Group LLC purchased a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $210,777,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on TTAN. Needham & Company LLC raised their price target on shares of ServiceTitan from $125.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Canaccord Genuity Group upped their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. TD Cowen started coverage on ServiceTitan in a research note on Tuesday, April 8th. They set a “buy” rating and a $120.00 target price for the company. Morgan Stanley boosted their price target on ServiceTitan from $104.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, Loop Capital lowered their price objective on ServiceTitan from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, March 14th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.23.

Insider Activity

In related news, CAO Michele O’connor sold 5,494 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the sale, the chief accounting officer now owns 89,302 shares in the company, valued at $8,452,434.30. This represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Sherry sold 10,175 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly 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.

ServiceTitan Stock Performance

NASDAQ:TTAN opened at $126.71 on Wednesday. The business’s 50 day moving average price is $108.40. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33.

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.