Geode Capital Management LLC Buys 26,273 Shares of ServiceTitan Inc. $TTAN

Geode Capital Management LLC raised its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 4.1% in the fourth quarter, Holdings Channel reports. The fund owned 670,270 shares of the company’s stock after acquiring an additional 26,273 shares during the period. Geode Capital Management LLC’s holdings in ServiceTitan were worth $71,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in ServiceTitan by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after acquiring an additional 439,079 shares during the period. JPMorgan Chase & Co. grew its stake in ServiceTitan by 118.4% in the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after acquiring an additional 1,569,136 shares during the period. Artisan Partners Limited Partnership grew its stake in ServiceTitan by 116.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company’s stock valued at $110,745,000 after acquiring an additional 591,213 shares during the period. Capital International Investors grew its stake in ServiceTitan by 0.7% in the third quarter. Capital International Investors now owns 988,412 shares of the company’s stock valued at $99,662,000 after acquiring an additional 7,237 shares during the period. Finally, Bamco Inc. NY grew its stake in ServiceTitan by 2.9% in the third quarter. Bamco Inc. NY now owns 962,618 shares of the company’s stock valued at $97,061,000 after acquiring an additional 27,230 shares during the period.

Insider Buying and Selling

In other news, CEO Ara Mahdessian sold 2,288 shares of ServiceTitan stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $159,839.68. Following the transaction, the chief executive officer owned 1 shares in the company, valued at approximately $69.86. This trade represents a 99.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Vahe Kuzoyan sold 3,220 shares of ServiceTitan stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $224,949.20. Following the completion of the transaction, the president owned 1 shares in the company, valued at approximately $69.86. The trade was a 99.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,440 shares of company stock worth $2,281,468 in the last quarter. Insiders own 39.89% of the company’s stock.

ServiceTitan Stock Performance

Shares of NASDAQ TTAN opened at $72.95 on Tuesday. The stock has a 50 day moving average price of $63.44 and a 200 day moving average price of $77.90. The stock has a market capitalization of $6.95 billion, a PE ratio of -50.31 and a beta of 0.12. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative return on equity of 5.64% and a negative net margin of 13.44%.The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 earnings per share. As a group, research analysts forecast that ServiceTitan Inc. will post -0.62 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. William Blair reissued an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. TD Cowen boosted their target price on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group decreased their target price on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Finally, Robert W. Baird upped their price objective on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

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.