Seven Grand Managers LLC Buys New Position in ServiceTitan Inc. (NASDAQ:TTAN)

Seven Grand Managers LLC bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 40,000 shares of the company’s stock, valued at approximately $4,115,000. ServiceTitan makes up about 1.9% of Seven Grand Managers LLC’s investment portfolio, making the stock its 20th largest position. Seven Grand Managers LLC owned about 0.05% of ServiceTitan at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in shares of ServiceTitan during the fourth quarter valued at approximately $57,349,000. TimesSquare Capital Management LLC acquired a new position in ServiceTitan in the 4th quarter valued at $87,896,000. Barclays PLC purchased a new position in shares of ServiceTitan during the 4th quarter worth $267,000. Battery Management Corp. purchased a new position in shares of ServiceTitan during the 4th quarter worth $496,599,000. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $227,000.

Wall Street Analyst Weigh In

TTAN has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $125.00 target price on shares of ServiceTitan in a research note on Friday, March 14th. Morgan Stanley upped their price objective on shares of ServiceTitan from $104.00 to $107.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. KeyCorp raised their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Loop Capital lowered their target price on shares of ServiceTitan from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, March 14th. Finally, Stifel Nicolaus dropped their price target on shares of ServiceTitan from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.23.

ServiceTitan Stock Down 0.5%

TTAN opened at $125.03 on Friday. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $128.57. The stock’s 50 day simple moving average is $105.75.

Insider Activity

In related news, CFO David Sherry sold 10,175 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares in the company, valued at approximately $30,799,961.85. This represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michele O’connor sold 5,494 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $520,007.10. Following the completion of the transaction, the chief accounting officer now directly owns 89,302 shares in the company, valued at $8,452,434.30. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 51.72% of the company’s stock.

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.