Ararat Capital Management LP Makes New $2.57 Million Investment in ServiceTitan Inc. (NASDAQ:TTAN)

Ararat Capital Management LP acquired a new stake in ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,000 shares of the company’s stock, valued at approximately $2,572,000. ServiceTitan comprises approximately 1.0% of Ararat Capital Management LP’s investment portfolio, making the stock its 16th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in ServiceTitan during the 4th quarter valued at $26,000. Assetmark Inc. purchased a new stake in shares of ServiceTitan in the fourth quarter valued at $67,000. FIL Ltd bought a new stake in shares of ServiceTitan in the 4th quarter worth about $67,000. Tower Research Capital LLC TRC purchased a new position in shares of ServiceTitan during the 4th quarter worth about $91,000. Finally, Insight Holdings Group LLC bought a new position in ServiceTitan during the 4th quarter valued at about $103,000.

Insider Buying and Selling

In other ServiceTitan news, CAO Michele O’connor sold 5,494 shares of the business’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 approximately $8,452,434.30. The trade was a 5.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Sherry sold 10,175 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 transaction of $963,063.75. Following the completion of the sale, the chief financial officer now owns 325,409 shares in the company, valued at $30,799,961.85. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

ServiceTitan Stock Up 1.7 %

ServiceTitan stock opened at $117.89 on Friday. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $128.16. The business’s fifty day moving average is $100.43.

Analyst Ratings Changes

TTAN has been the subject of several analyst reports. Loop Capital decreased their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, March 14th. Wells Fargo & Company began coverage on ServiceTitan in a report on Monday, January 6th. They set an “overweight” rating and a $125.00 price objective for the company. Needham & Company LLC increased their target price on ServiceTitan from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp lifted their target price on ServiceTitan from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, William Blair began coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ServiceTitan has an average rating of “Moderate Buy” and a consensus target price of $118.23.

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.