ServiceTitan Inc. $TTAN Shares Purchased by Swiss National Bank

Swiss National Bank raised its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 136.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,200 shares of the company’s stock after acquiring an additional 64,800 shares during the quarter. Swiss National Bank’s holdings in ServiceTitan were worth $7,120,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after purchasing an additional 439,079 shares during the period. Renaissance Capital LLC lifted its stake in shares of ServiceTitan by 222.8% in the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock valued at $4,390,000 after purchasing an additional 28,454 shares during the period. Zevenbergen Capital Investments LLC purchased a new stake in ServiceTitan during the fourth quarter worth $4,281,000. Comerica Bank boosted its holdings in ServiceTitan by 372.3% during the fourth quarter. Comerica Bank now owns 26,513 shares of the company’s stock worth $2,824,000 after buying an additional 20,899 shares in the last quarter. Finally, Robeco Schweiz AG boosted its holdings in ServiceTitan by 35.3% during the fourth quarter. Robeco Schweiz AG now owns 83,200 shares of the company’s stock worth $8,861,000 after buying an additional 21,700 shares in the last quarter.

Insider Buying and Selling at ServiceTitan

In other news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the sale, the insider owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the transaction, the director owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. This trade represents a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 296,664 shares of company stock valued at $19,958,797. Insiders own 39.89% of the company’s stock.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $78.39 on Wednesday. The business’s 50 day moving average price is $71.24 and its 200-day moving average price is $70.68. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of -54.06 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TTAN shares. Morgan Stanley lifted their price objective on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Stifel Nicolaus set a $125.00 target price on shares of ServiceTitan in a research note on Wednesday, May 27th. BMO Capital Markets raised their target price on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. Piper Sandler lifted their price target on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Finally, UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a report on Wednesday, July 22nd. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.53.

ServiceTitan Company 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.