50,000 Shares in ServiceTitan Inc. (NASDAQ:TTAN) Purchased by Xn LP

Xn LP purchased a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $5,144,000. ServiceTitan comprises about 0.2% of Xn LP’s investment portfolio, making the stock its 23rd largest position. Xn LP owned 0.07% of ServiceTitan as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Zimmer Partners LP acquired a new stake in ServiceTitan in the 4th quarter valued at about $514,000. Sone Capital Management LLC acquired a new stake in ServiceTitan in the 4th quarter valued at about $4,322,000. Squarepoint Ops LLC acquired a new stake in ServiceTitan in the 4th quarter valued at about $3,482,000. TPG GP A LLC acquired a new stake in ServiceTitan in the 4th quarter valued at about $525,405,000. Finally, Thoma Bravo L.P. acquired a new stake in ServiceTitan in the 4th quarter valued at about $106,892,000.

ServiceTitan Price Performance

NASDAQ:TTAN opened at $129.37 on Tuesday. The business’s 50 day moving average is $107.51. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33.

Insider Buying and Selling

In other ServiceTitan news, CAO Michele O’connor sold 5,494 shares of the firm’s stock in a transaction that occurred on 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 owns 89,302 shares of the company’s stock, valued at $8,452,434.30. This trade represents a 5.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO David Sherry sold 10,175 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 325,409 shares of the company’s stock, valued at $30,799,961.85. This represents a 3.03% decrease in their position. The disclosure for this sale can be found here. 51.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TTAN. Needham & Company LLC raised their price target on shares of ServiceTitan from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Canaccord Genuity Group raised their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. TD Cowen assumed coverage on shares of ServiceTitan in a report on Tuesday, April 8th. They set a “buy” rating and a $120.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $125.00 price target on shares of ServiceTitan in a report on Friday, March 14th. Finally, KeyCorp raised their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. 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 stock. According to MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and a consensus price target of $118.23.

About ServiceTitan

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.