Geode Capital Management LLC Has $71.42 Million Stock Position in ServiceTitan Inc. $TTAN

Geode Capital Management LLC lifted its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 670,270 shares of the company’s stock after purchasing an additional 26,273 shares during the quarter. Geode Capital Management LLC owned approximately 0.72% of ServiceTitan worth $71,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Toth Financial Advisory Corp grew its holdings in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. acquired a new stake in shares of ServiceTitan during the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC bought a new position in shares of ServiceTitan during the 4th quarter worth approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position 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 worth $46,000 after buying an additional 392 shares during the period.

ServiceTitan Stock Down 5.7%

TTAN stock opened at $72.95 on Tuesday. The company has a market cap of $6.95 billion, a P/E ratio of -50.31 and a beta of 0.12. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The business has a fifty day moving average of $63.44 and a 200-day moving average of $77.90.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.64% and a negative net margin of 13.44%.The business had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceTitan news, CFO David Sherry sold 17,778 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the transaction, the chief financial officer owned 313,025 shares in the company, valued at approximately $21,867,926.50. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michele O’connor sold 5,154 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $360,058.44. Following the transaction, the chief accounting officer owned 84,416 shares in the company, valued at approximately $5,897,301.76. This trade represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,440 shares of company stock worth $2,281,468 in the last ninety days. 39.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TTAN. Morgan Stanley raised their target price on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird raised their target price on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler raised their target price on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets raised their target price on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Canaccord Genuity Group cut their price objective on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.53.

About ServiceTitan

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.