Natixis Advisors LLC Takes $39.17 Million Position in ServiceTitan Inc. $TTAN

Natixis Advisors LLC purchased a new position in ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 367,828 shares of the company’s stock, valued at approximately $39,174,000.

A number of other hedge funds have also recently made changes to their positions in TTAN. Norges Bank purchased a new position in ServiceTitan in the fourth quarter valued at about $112,678,000. Geode Capital Management LLC lifted its position in shares of ServiceTitan by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 670,270 shares of the company’s stock valued at $71,417,000 after buying an additional 26,273 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock valued at $96,000 after buying an additional 209 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of ServiceTitan in the 4th quarter valued at about $229,000. Finally, Sierra Summit Advisors LLC purchased a new position in shares of ServiceTitan in the 4th quarter worth approximately $1,022,000.

Analyst Ratings Changes

Several research firms recently commented on TTAN. Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a research note on Wednesday, May 27th. Needham & Company LLC lowered their target price on shares of ServiceTitan from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, March 13th. BTIG Research cut their price target on shares of ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Canaccord Genuity Group reduced their price target on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Morgan Stanley lowered their price objective on ServiceTitan from $131.00 to $118.00 and set an “overweight” 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceTitan currently has an average rating of “Moderate Buy” and a consensus price target of $107.80.

Insider Transactions at ServiceTitan

In other news, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $159,839.68. Following the transaction, the chief executive officer directly owned 1 shares of the company’s stock, valued at approximately $69.86. This represents a 99.96% decrease in their ownership of the stock. 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 5,154 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 completion of the transaction, the chief accounting officer owned 84,416 shares of the company’s stock, valued at approximately $5,897,301.76. The trade was a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 33,440 shares of company stock worth $2,281,468. Insiders own 39.89% of the company’s stock.

ServiceTitan Trading Down 3.2%

NASDAQ:TTAN opened at $72.63 on Thursday. The company has a market cap of $6.92 billion, a PE ratio of -42.23 and a beta of 0.13. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The company’s 50 day moving average is $62.76 and its two-hundred day moving average is $78.15.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $253.99 million during the quarter, compared to analysts’ expectations of $245.47 million. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. As a group, analysts expect that ServiceTitan Inc. will post -0.62 EPS for the current fiscal year.

ServiceTitan Profile

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.