Walleye Capital LLC Acquires New Shares in ServiceTitan Inc. $TTAN

Walleye Capital LLC bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN) during the second quarter, Holdings Channel reports. The institutional investor bought 198,695 shares of the company’s stock, valued at approximately $21,296,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in ServiceTitan during the second quarter valued at approximately $79,000. EverSource Wealth Advisors LLC acquired a new stake in ServiceTitan in the second quarter valued at approximately $94,000. RiverPark Advisors LLC acquired a new stake in ServiceTitan in the second quarter valued at approximately $104,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in ServiceTitan in the second quarter worth approximately $204,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Morgan Stanley restated an “outperform” rating on shares of ServiceTitan in a report on Friday. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday. Stifel Nicolaus upped their price target on ServiceTitan from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company raised their price objective on ServiceTitan from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.40.

ServiceTitan Stock Up 2.4%

ServiceTitan stock opened at $95.59 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.49. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The firm has a fifty day moving average price of $94.43 and a two-hundred day moving average price of $104.86. The firm has a market cap of $8.89 billion and a price-to-earnings ratio of -17.70.

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. ServiceTitan had a negative return on equity of 16.87% and a negative net margin of 26.08%.The business had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Insider Transactions at ServiceTitan

In other news, major shareholder Bessemer Venture Partners Viii sold 370,557 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $117.79, for a total value of $43,647,909.03. Following the completion of the sale, the insider directly owned 7,595,777 shares of the company’s stock, valued at approximately $894,706,572.83. This represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Vahe Kuzoyan sold 16,690 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $104.81, for a total transaction of $1,749,278.90. The SEC filing for this sale provides additional information. Insiders sold a total of 1,121,690 shares of company stock worth $126,740,332 over the last three months. 51.72% of the stock is currently owned by insiders.

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.