Marshall Wace LLP Takes $44.70 Million Position in ServiceTitan Inc. $TTAN

Marshall Wace LLP purchased a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 417,055 shares of the company’s stock, valued at approximately $44,700,000. Marshall Wace LLP owned approximately 0.46% of ServiceTitan as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 acquiring an additional 392 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of ServiceTitan during the second quarter worth about $79,000. EverSource Wealth Advisors LLC bought a new stake in shares of ServiceTitan in the second quarter worth about $94,000. RiverPark Advisors LLC purchased a new position in shares of ServiceTitan during the second quarter valued at approximately $104,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of ServiceTitan during the second quarter valued at approximately $204,000.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of ServiceTitan in a report on Friday, September 5th. Raymond James Financial assumed coverage on shares of ServiceTitan in a research report on Friday, August 29th. They issued a “market perform” rating on the stock. Canaccord Genuity Group lifted their price target on shares of ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Loop Capital raised shares of ServiceTitan from a “hold” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $140.00 in a report on Monday, August 18th. Finally, TD Cowen boosted their price target on ServiceTitan from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.53.

ServiceTitan Trading Up 10.5%

TTAN opened at $105.60 on Friday. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33. The stock has a market cap of $9.82 billion and a price-to-earnings ratio of -25.88. The stock’s 50 day moving average price is $94.44 and its 200-day moving average price is $104.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.49 and a current ratio of 4.49.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results 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 net margin of 23.91% and a negative return on equity of 11.03%. The business had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. During the same period last year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ara Mahdessian sold 46,542 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $91.40, for a total transaction of $4,253,938.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David Sherry sold 833 shares of ServiceTitan stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $86.20, for a total transaction of $71,804.60. Following the completion of the sale, the chief financial officer owned 345,952 shares in the company, valued at approximately $29,821,062.40. This trade represents a 0.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,121,690 shares of company stock worth $126,740,332. 51.72% of the stock is currently owned by company insiders.

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.