ServiceTitan Inc. $TTAN Position Increased by Squarepoint Ops LLC

Squarepoint Ops LLC increased its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 1,015.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,451 shares of the company’s stock after buying an additional 33,183 shares during the quarter. Squarepoint Ops LLC’s holdings in ServiceTitan were worth $3,907,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Liontrust Investment Partners LLP bought a new stake in ServiceTitan in the second quarter valued at $2,935,000. Hudson Bay Capital Management LP acquired a new stake in shares of ServiceTitan in the 2nd quarter worth about $2,144,000. Tower Research Capital LLC TRC lifted its position in ServiceTitan by 4,091.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,934 shares of the company’s stock valued at $314,000 after purchasing an additional 2,864 shares during the last quarter. Corient Private Wealth LLC acquired a new position in ServiceTitan during the 2nd quarter valued at about $301,000. Finally, Vident Advisory LLC bought a new position in ServiceTitan in the 2nd quarter worth about $228,000.

ServiceTitan Stock Performance

Shares of NASDAQ TTAN opened at $105.12 on Wednesday. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The firm has a market cap of $9.77 billion and a P/E ratio of -25.76. The stock has a fifty day moving average price of $95.06 and a two-hundred day moving average price of $103.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, December 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. Research analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TTAN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of ServiceTitan in a report on Friday, September 5th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday. BTIG Research started coverage on ServiceTitan in a research report on Tuesday. They set a “buy” rating and a $130.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 1st. Finally, Piper Sandler cut their price objective on shares of ServiceTitan from $155.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.25.

Insiders Place Their Bets

In related news, President Vahe Kuzoyan sold 16,388 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $92.03, for a total value of $1,508,187.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Sherry sold 833 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $86.20, for a total transaction of $71,804.60. Following the sale, the chief financial officer directly owned 345,952 shares of the company’s stock, valued at approximately $29,821,062.40. This represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 422,790 shares of company stock worth $42,763,536. 51.72% of the stock is owned by corporate insiders.

ServiceTitan 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.