ServiceTitan Inc. $TTAN Stake Lifted by Lazari Capital Management Inc.

Lazari Capital Management Inc. increased its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 58.3% during the third quarter, HoldingsChannel reports. The firm owned 35,303 shares of the company’s stock after acquiring an additional 13,005 shares during the period. ServiceTitan comprises approximately 0.6% of Lazari Capital Management Inc.’s portfolio, making the stock its 28th biggest holding. Lazari Capital Management Inc.’s holdings in ServiceTitan were worth $2,323,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Madison Asset Management LLC bought a new position in shares of ServiceTitan during the 2nd quarter worth $56,118,000. Jennison Associates LLC boosted its holdings in ServiceTitan by 235.3% in the 1st quarter. Jennison Associates LLC now owns 380,468 shares of the company’s stock valued at $24,145,000 after purchasing an additional 267,002 shares during the period. Wellington Management Group LLP grew its position in ServiceTitan by 258.7% during the second quarter. Wellington Management Group LLP now owns 316,695 shares of the company’s stock worth $22,394,000 after buying an additional 228,417 shares in the last quarter. Stockbridge Partners LLC purchased a new position in shares of ServiceTitan during the second quarter worth about $13,333,000. Finally, D.A. Davidson & CO. purchased a new position in ServiceTitan in the 1st quarter worth approximately $8,401,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TTAN shares. Citigroup dropped their price target on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, September 9th. UBS Group set a $100.00 price target on shares of ServiceTitan in a research report on Wednesday, September 9th. Weiss Ratings upgraded ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 29th. Piper Sandler decreased their target price on shares of ServiceTitan from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Finally, Truist Financial reaffirmed a “buy” rating and set a $100.00 price target (down from $110.00) on shares of ServiceTitan in a research report on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.38.

ServiceTitan Trading Up 2.2%

ServiceTitan stock traded up $1.71 on Tuesday, hitting $79.97. 666,627 shares of the stock traded hands, compared to its average volume of 1,748,168. ServiceTitan Inc. has a 1 year low of $53.00 and a 1 year high of $111.36. The firm has a market cap of $7.71 billion, a P/E ratio of -58.84 and a beta of 0.33. The business’s fifty day simple moving average is $76.44 and its 200 day simple moving average is $71.61.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. ServiceTitan’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, analysts predict that ServiceTitan Inc. will post -0.52 earnings per share for the current year.

Insider Activity

In other ServiceTitan news, CAO Michele O’connor sold 5,581 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $318,507.67. Following the sale, the chief accounting officer directly owned 66,095 shares in the company, valued at approximately $3,772,041.65. This trade represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO David Sherry sold 23,246 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $57.07, for a total value of $1,326,649.22. Following the sale, the chief financial officer directly owned 363,511 shares in the company, valued at $20,745,572.77. This trade represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 268,814 shares of company stock worth $22,294,608. 39.89% of the stock is currently owned by company insiders.

About ServiceTitan

ServiceTitan, Inc provides cloud-based software designed to help residential and commercial trade contractors manage and grow their businesses. Its platform serves industries including heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service trades.

The company’s software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.